The overdrive lines come with the 2Fractals_15min routine.
They are the red on the top and the dark green on the bottom.
I figure them from the displacements of the hourly E-32: + – 2.2 x fluctuation maximum.
One interesting fact is that the 200-pip pullback from the top fizzled out at such a level (in a still embedded overbought market), and another interesting fact is that the current double top also coincided with the inability to shift buying into overdrive.
I have made an effort to plug in at least the values on the 4H chart. Think of it like a flexible channel.
I would consider making plots, but I cannot add them to the existing routines, and they may end up being too coarse anyways because of the large pauses in data flow.
Back to the previous lesson, you can see how the theories worked in real time today, the 1st break above overbought was a sell starting 1.1819 from where the squaring went back to the overbought neckline.
The second move back above was not a sell as I said, and with this article you have a much clearer picture in your had about what the long exit would be: a failure at the overdrive level.
I was buying the keel-back, but should had set my mind on the overdrive instead of scaling out by 1.1840 – this is what bias does to you.
Picture shows the price bouncing off the Green River twice