This indicator highlights deviations from broadening formations (or megaphone patterns). Deviations from broadening ranges can often foreshadow reversals, especially in consolidation phases. These deviations are highlighted via trendlines that change color when tested, and also have the option to be alerted.
These broadening formations are heavily used with "The...
//use as a price structure studying tool
//defaults set for the 1 hour chart... inner cloud represents 24 hours in 1 day, outer cloud represents 5 days in 1 week (forex). Change per desired resolution and market session length.