This is a pretty good indicator. It looks for exhaustion bars and users those for reversals. The theory is that an exhaustion bar will form on higher volume, then the price will reverse.

This indicator is not designed to be used by itself. If fact, if you use it alone for trading, I think ….. well you know…. you would get taken to the cleaners.

So pair this with Stochastics or MACD , or whatever you wish.