Made an indicator with it.

When the purple thing is open on the upside, the market is set to rally.

An optimal buy starts at 63 pips from the recent 200-sample high and is a game till 80 pips.

You can see above as the purple thingy flips from sell to buy.

   if (MathAbs(Close[i]-iLow(symbol,0,iLowest(symbol,0,MODE_LOW,200,i)))<MathAbs(iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,200,i))-Close[i]))
      {reference[i] = iLow(symbol,0,iLowest(symbol,0,MODE_LOW,200,i));   
       L53[i]=reference[i]+530*Point;
       L63[i]=reference[i]+630*Point;
       L80[i]=reference[i]+800*Point; 
       if (L80[i]==L80[i+1]) L80p[i]=L80[i]; 
       else L80p[i]=L80[i+2];
       if (Close[i]<L53[i]) cover[i]=iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,10,i))-530*Point;  
      }
      else {reference[i] = iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,200,i));   
       L53[i]=reference[i]-530*Point;
       L63[i]=reference[i]-630*Point;
       L80[i]=reference[i]-800*Point;  
       if (L80[i]==L80[i+1]) L80p[i]=L80[i]; 
       else L80p[i]=L80[i+2];
          if (Close[i]>L53[i])  cover[i]=iLow(symbol,0,iLowest(symbol,0,MODE_LOW,10,i))+530*Point;
      }

The yellow circle below shows in a different format the high voltage kiss goodbye of the two poles.

So far the rally stayed within the moratorium of the Echo, but another higher high would be necessary for a gray divergence (the second hour would have to touch the 8-EMO on the way down).

I made an article about Gaps before saying that if the price is near the S-240, the gap would be away from it.

The current cover level is projected at 1.0931 – 53 pips from the 10-sample low.

Will need to see another green loop hooking back and printing another pink slip.

cover level added in magenta