Momentum trendlines

["Michael L. Robb" <mrobb@xxxxxxxxxxxxx>]

Clive Roffey:

When you talk about RSI  triangles, are you talking about Elliott Triangles,
or classical Edwards & McGee triangles?

You need five points, ABCDE, for an Elliott triangle; some have precise
proportional relationships. There are four correctional shapes: ascending,
descending, contracting and expanding: and one impulsive, called diagonal.

Classical triangles are not so precisely defined, as I recall; and could be
considered more intuitive.  Is there some predominant shape, you see in the
RSI triangle?  

Is it a leading indicator toward price extremes? Or does the triangle,
itself, define the price extreme?

Regards,

Mike