Theory :

This indicator is a "corrected" version (using dr. Alexander Uhl's method for correcting an average) of Wilder's double smoothed EMA

Also it is adding floating levels to the indicator. That way you have 4 choices for color changes :

  • change color when outer floating levels are crossed

  • change color when middle floating level (a sort of a "zero line") is crossed

  • change color on slope change

  • change color original to corrected value cross

Usage :

You can use color changes as signals