If the price is in the green field, it gives you an indication that it's bull trend. If price reaches bull level 4, there is high possibility that it will retrace.
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In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.