What is this indicator?
Removes the long-term trend from price so shorter-term price cycles can be seen more clearly. Unlike most oscillators, it's designed for short-term trading, not forecasting the long-term trend.
How to read the chart
The indicator moving toward the ends of its range usually signals overbought or oversold conditions; a divergence between price and the indicator is also considered an important signal.
Practical tip
Instead of trading purely off reaching an overbought or oversold zone, first check the overall trend on a higher timeframe and only take signals that align with it.