This indicator can be used as a simple measure of price action tradability. It's an alternative to volume that focuses on the gaps between close and open candle prices. The bigger the gaps, the more spread and slippage you'll get when trading.
Looking at Litecoin's all time high vs point of control (price range with most traded volume) we may be starting to see what we've been a part of for the past 4 months.
Look at those perfect support/resistance lines lining up with the fib levels.
Given the weak rally we're seeing on Litecoin at the moment I think we've got a delicious shorting opportunity here.