Watch for the peaks and the size of the red/green channel for possible trend change.
Can also be used as an Entry/Exit/Stop-Loss setting tool.
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.