If you want to measure exhaustion, start by using a semaphore zigzag indicator that will draw the dots on each high and low. The indicator does not work for live trading, but is really quick for doing historical analysis. I use a yellow 3 to find the prominent highs and lows. Next, determine the time frame you want to trade. To best choose it, evaluate whether or not you want trades to continue while you are sleeping. If so, you need to learn about stops. If not, then how much time per trade do you want to monitor the trade? Once you figure out the time frame, then choose the most active hours of that currency pair. Some trade better during Asia, others London, others New York, others Australia. Identify the trade highs and lows during the active trading hours and use your mouse cursor to measure the number of candles. Get an average of as many trades as you think appropriate. This number will help you know a decent setting for your indicator.
On my thread I do discuss about indicator ranges, so once you find the indicator capable of measuring the entire range of your trade, then input your average and go from there. Some indicators will work by crossing a 0 line, others a 50 line, while most will need a moving average placed on them to dissect the signal.
This should help you get started. Good Luck

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