The first question to ask is where are they compressing volatility?

The answer currently is about 32 pips up from the last swing low. There are another 3 examples above.

The second question is what is my proof for price having turned around?

The answer is none, as there has not been a White or Black Echo print yet.

//// ECHO on the downside
if (Low[i+1]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i+1)+20*Point 
&& Low[i+1]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i+1)-370*Point
&& (Open[i]<Close[i] || (i>0 && Low[i-1]>Low[i+1]))
&& High[i+1]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,i+1)
//&& High[i+2]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,i+2)
&& Low[i+1]<Low[i] 
&& Low[i+1]<(Low[i+2]+20*Point)
&& Low[i+2]<Low[i+3]
&& High[i+3]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,i+3)
&& Close[i+1]>(Low[i+1]+((High[i+1]-Low[i+1])/3))
&& ExtATRBuffer[i+1]>50
)
{
    ObjectCreate("HOTE"+i,OBJ_TEXT, 0, Time[i+1],Low[i+1]-80*Point);
    ObjectSetText("HOTE"+i,"ECHO", 26, "Impact", clrWhite);     
    if (ExtATRBuffer2[i+1]<50 && (iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1)-iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i+1))<320*Point) 
    ObjectSetText("HOTE"+i,"ECHO (MFI_R)", 26, "Impact", clrGray);  
  

The Gray Echo was a downgrade due to the BB width not reaching at least 32 pips (squeeze-release).

With that said, there is a 3rd hour of selling currently. If this candle closes back up 1/3, the confirmation could be either the following hour closing green or the second candle staying off the low. That would be a white Echo print, and the moratorium line would be re-plotted 10 pips below the new swing low.

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Achilles Dent: Never, Never Land with the voice of Chester Bennington.

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