This is a proprietary indicator, part of the RTT Indicator set.
Important Disclaimer: None of the proprietary indicators give specific signals of BUY and/or SELL prices or signals for investment decisions. They do however bring your attention to price action for further analysis only. Any BUY or SELL decision is purely your own responsibility. Please understand that we find favor with our proprietary tools, but they do not work all the time, nothing is 100% accurate. Please review our terms of use.
Price has two modes, and only two.

It is extremely difficult to produce a mathematical formula that will determine the switch from the trendy to a sideways (cycle) market. The RTT Market Pulse indicator (our version of the Hilbert Sine Wave) is about as close as you will ever get. The indicator displays two background colors types, white and green. The darker the green the more trendy the market. The colored support and resistance lines give you an excellent price level for the analysis of price action. Also please understand that there is no curve fitting or repainting of this indicator, it is what is, with no fitting to price what so ever.
An Example of RTT MktPulse
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Note: The text and arrow lines on this chart were drawn with Paint.Net and not the readtheticker.com text tool.
In an up trend market the blue support levels can be activated while the red resistance levels are de activated. Vica versa for a down trend market. The RTT Market Pulse indicator offers both lower (below price) and upper studies (on price), both have options for de activation.
An example of the RTT MarketPulse with resistance lines only, set with the RTT Rainbow bands.
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An example of the RTT MarketPulse with support lines only, set with the RTT Rainbow bands.
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Here are a few more examples of RTTMarketPulse (bullish mode only) shown with Hurst Cycles .
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And..
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
..“What beat me was not having the brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favored my play.”..
Jesse Livermore
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
.."A lie told often enough becomes the truth"..
Vladimir Lenin
.."Just because you do not take an interest in politics doesn't mean politics won't take an interest in you"..
Pericles
."Buying stuff people hate, that's the business we are in, right!"..."you may need to have a longer time horizon"..."be patient"..
Mark Yusko