Evaluate the following strategy as compared with the one pictured in Post #23...
Since this strategy uses a 15-minute chart, it offers a more detailed picture of what's going on than does the one from Post #23.
Transposing the graphics from the hourly chart to the lower time frame led me to add the 90-minute and three-hour baselines to the six- and 12-hour measures;
with the three-hour measure representing the typical pullback level.
The role played by the lower panel in Post #24 can be mirrored in the main chart by observing what the candlesticks do as soon as they cross above or below the 50-minute baseline, not to mention what the indicator you refer to as "averaged" does.
Use what you call the "interval measures" in both time frames to calculate the projected maximum and "minimum" lengths for the candlestick wicks and tails. On the one-hour chart, under extreme conditions, this calculation is taken over by the outer "averaged" measure and/or the three-hour price range envelope at 0.30% deviation.
So in general, the 90-minute measure conveys the ultimate destination of the intraday trend, with the 50-minute baseline, and the positional relationship between it and the most recent candlesticks (on a 15-minute chart), tracking the immediate, fluctuating, shorter-term trends.
However, the 50-minute measure is too unstable to be trusted, and should therefore be confirmed by the three-hour moving average. But even
this measure can, from time to time, be guilty of executing a head fake, and should therefore be confirmed, in turn, by the 6-hour baseline which, though evidencing a significant amount of lag,
can nonetheless guard against making a costly mistake
once the trend gets going.
The 12-hour baseline is more indicative of the ultimate direction in which price is headed from one day to the next, since the amount of lag it evidences is so severe as to make if of only limited value when it comes to making intraday decisions.
