The indicator shows the relative movement and price range from -100 to 100. Thus, you can define overbought/oversold areas, trend and reverse movements, as well as flats. Sort out signals, improve your strategy, compare the movements of various symbols, or plot graphical models according to the wave pattern. The indicator provides you with unlimited possibilities!

General

The indicator is displayed in a separate window as three lines:

• HI metric and LO metric show the price "shadow", the range of values, and the movement rate. Narrowing lines mean the price movement rate is increasing, while expanding ones mean slowing.
• MEDIAN - movement axis - averaged price value. The line is highly correlated with the price movement on the main chart. The axis moving upwards corresponds to the price rise, while moving downwards means the price fall.

The "areas of chimeras", also known as the attic and the basement, allow you to define the oversold/overbought areas and possible price reversal levels. These are levels 55 and -55 (the values are customizable). "When the price enters the areas of chimeras, it is devoured by a chimera causing slowing or even reversal. But the chimera always tries to deceive traders. Sometimes, the price side movements occur along the chimeras area without leaving them for a long time."

Detected areas are highlighted with color in both the main and additional windows for more visibility.

The points where the price shifts from positive to negative values and vice versa are marked with vertical lines. These lines divide the chart into half-waves and can be used in graphical representations.

Use

The indicator highlights market oscillations close to PERIOD. To minimize the risks, pay attention to periodicity violations, linear movements, and the MEDIAN line divergences relative to the price.

I recommend using Chimera on the timeframes from M5 to H1 in order to identify overbought/oversold areas and find good market entry points. The system of multiple screens is recommended. When an entry to an area is detected on a higher timeframe, switch to a lower one and wait for the similar entry. When opening a position, pay attention to the confirming signals of the short-term oscillators (for example, AO).

On M1 and M5 timeframes, use Chimera with a small PERIOD value (15-30) to detect the "states of anxiety" - when the indicator lines diverge and are almost linear. This shows the market volatility and an upcoming sharp movement. In most cases, the movement occurs in a direction opposite to the indicator inclination.

On higher timeframes, I prefer using Chimera for graphical layout using its vertical lines. The lines are moved to the main chart, and the highs/lows of the alternating sections are connected with a zigzag.

Comparing Chimera readings for correlating symbols is efficient as well.

Parameters

• SYMBOL - symbol used for calculation. The current chart symbol is used by default
• PERIOD - set a period of detected market fluctuations. Chimera will be most sensitive to fluctuations occurring to close and divisible periods.

The following parameters are used to define the chimeras' areas:

• LEVEL - area level.
• Zoning by - entry/exit management. There are three options here:
• FULL_SHADOWS - if the shadow is completely above/below the level
• HALF SHADOWNG - after the specified level's MEDIAN line is crossed
• BY FIRST TOUCH - after the shadow touches the level the first time

Other parameters configure the indicator display settings.