Awesome Oscillator is one of the most useful tools for identifying a reversal or correction of the current trend.
Indicators

ATR indicator
The ATR indicator is considered one of the most useful tools for determining market volatility.

CCI oscillator overview
The Commodity Channel Index ( CCI ) is a relatively new oscillator that first appeared in 1980.

Overview of the Stochastic indicator
Stochastic is a technical analysis indicator of the oscillator class. It shows the intensity of price deviation from a range of values for a certain period of time in the past.

Overview of the Parabolic SAR indicator
The Parabolic SAR system is a popular trend indicator that shows the point of a price reversal.