What is this indicator?
Filters out small price fluctuations and only shows moves larger than a defined percentage as angled lines. It's used mostly as a visual aid for spotting waves and patterns, not as a direct signal.
How to read the chart
A pattern forming completely and getting confirmed by volume or the next candle raises the signal's validity; an incomplete or unconfirmed pattern can produce the opposite result.
Practical tip
A pattern's validity increases on higher timeframes and with heavier trading volume; on very low timeframes there's a lot of noise.