Use This indicator on the daily timeframe The 30-day rolling returns can be used to gauge market strength and assess over/underheated price action.
Values between 0% and -30% are typical negative returns during consolidation periods of relatively low volatility. Values below -50% often occur at cyclical bottoms, and may represent value buying areas. Values over 50% represent de-risking zones and are often met with profit-taking. Values over 70% are historically high and represent a high potential for a macro reversal. This indicator is also used to detect local top and local battom Coined By Permabull Niño