Further to the discussion on the webinar last Wednesday, the original description for this indicator was "Price trend has reversed", which works fine for the big HP moves that were so common when we first started this course. However, to make it more applicable to a wider range of situations, such as taking off from a consolidation pattern, I suggest we replace it with:
Price trend has reversed or changed and is now in the required direction.
"In the required direction" is the most important part: you are interpreting the chart as suggesting that price will either go up further or down further over the ensuing several days. Note I am still favouring the use of the word "trend" (which can be up, down or sideways in my world), but others may want to change that term and that's fine as long as you know what you mean.
Thanks Alan.
