This is a combination of 3 types of indicators : 1) Simple Moving Average 2) Exponential Moving Average 3) Bollinger Band Idea is to plot any of the above indicator with a particular period length from a different timeframe to the timeframe on which you are currently working. eg : As shown in the chart we have indicator plots from daily timeframe plotted/shown...
Higher percent chance of long and short is arrows, lower chance is circles. Take profit quickly on shorts, parameters work best on indices. Be very cautious when the SMA Fast/Slow gap begins to narrow, false signals are higher there.
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Those moving averages are calculated from the Day candlesticks, regardless of whether the chart is using 5min, 45min, 2H... So your 200MA is always the 200-day moving average. Script can show up to 4 SMA and 4 EMA all in one indicator in TV. By default the SMAs and EMAs are 50d, 100d and 200d. A fourth is available in the preferences if you enable it.