The author says that it is based on range,volatility and the position of the closes in the last n bars and that it works on any time frame without modifications(so i presume it's adaptive) .When High touches the upper band(blue line) a buy signal is given,when low touches the lower band(red) a sell signal is given.Furthermore,in the graph you can see two grey lines:If we are long and prices(low) touch the lower grey line,the market becomes neutral;if we are short and prices(high)touch the upper grey line,the market becomes neutral.
In other words,the indicator gives, at the end of every period, the levels of trend changes for the next period.I don't know other.Is there anybody familiar with it?
Thank you all and forgive my poor english