The indicator searches for the points of the beginning of correction or a turn. It gives good market entry points. It is simple to use and features rich configuration options for demanding traders. It will help you to find short-term and long-term trends.
Turn or divergence channels are drawn based on the search for divergence using the RSI indicator. The RSI values are calculated with different periods depending on channel properties. The indicator utilizes the idea of Elliott Wave patterns. It searched for divergence channels, the peaks of which are Elliott Waves 3 and 5. Also, these channels are often formed on the latest correction wave.
The channel is drawn based on two peaks with a divergence, and is drawn so that all the bars between these peaks were inside the channel.
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