Exhaustion Hunter is a technical indicator designed to identify trend exhaustion points and signal potential price reversals in real time. It uses a dual Williams %R system, requiring both fast and slow periods to confirm entry into an extreme zone before generating signals. This approach distinguishes between merely reaching an extreme and actually leaving it, aiming to provide more reliable reversal entries.
Key features include:
- Dual %R confirmation: Both fast and slow periods must align to activate a zone.
- Reversal arrows: Signals appear precisely when the exhaustion zone breaks.
- Dynamic chart boxes: Colored zones are drawn on the price chart during active conditions.
- Four smoothing modes: SMA, EMA, WMA, and RMA to adjust signal responsiveness.
- Formula toggle: Allows switching between dual confirmation and average mode.
- Full configurability: Users can customize thresholds, colors, periods, and source price.
Exhaustion Hunter helps traders identify when a price move has lost momentum, providing visual cues directly on the chart to assist in timing reversals. It supports customization to fit different trading styles and preferences.