This is the my first indicator and also the first version of Betelgeuse script,I hope you will like it.
The indicator was designed to be used on cryptocurrencies The idea is to be able to identify good entry and exit points in the market, traders often try to identify the minimum or maximum points and this is why Betelgeuse was born. Betelgeuse should be combined with your analysis and other indicators to find good entry and exit zones and not a precise point.Obviously the more the indicator will be used over long time frames the more accurate the signals will be.
You can decide to wait for a good signal from the RSI or from the MACD and add up the Betelegeuse confirmation for a good entry or exit from the market.
The MA based indicator will give you an idea of the direction of the medium term trend.