It plots an uptrend if the low of a candle gets above the recent downtrend and plots a downtrend if the high of a candle gets below the recent uptrend, you have to wait for the candle to close to confirm the actual trend change.
I use it to give me a direction for longs or shorts, not as a stop/reverse indicator.
Thanks Lazy Bear and Gunazzi :)
- Added % Gain/Loss as requested in comments
And you can see the trend gains at different steps. Thanks, see you. In fact, you can see at @trendraiser on twitter that he has a trading view version but he
doesn't share it.