Teal lines = divergence. This is where the chart diverges from (does the opposite of) the price chart.
Basically: price goes up, while goes down.
Red dashed line on the chart = "Look out for Divergence when goes above this line"
Green dotted line on chart = Rebounds often (but not always) start from below this line. Some rebounds start from way above this line though.
- some highs (divergence) are much less compelling than others.
- some lows indicated on this chart are much less compelling than others.
Disclaimer: I'm doing this as a charting exercise to learn charting and practice techniques I've learned from others - I am not an experienced trader.