CAD - Over Extended & About to Bounce

As mentioned before; I post these charts for a few other traders. This is one of my indicators.

The CAD is extremely over extended. A consolidation will happen. If you are long the CAD, I would consider covering and possible reversing. Yesterday this indicator caught the bottom for the CAD (i.e one example would the 'top' of the USDCAD range).

NOTE: this indicator measure individual currencies and NOT currency pairs.