This indicator is designed to determine overbought / oversold areas, taking into account the general direction of the trend.
It's being considered as an UpTrend while the area is above it's middle value, and also it's being a signal attenuation when the area is above the upper band.
Vice versa it's being considered as a DownTrend while the area is below it's middle value, and also it's being a signal attenuation when the area is below the lower band.
Each market (stocks, futures, currencies etc.) has it's own individual parameters, properties and characteristics: so it's better to use tuning depending on the timeframe You choose (the bigger the timeframe is - the lower/faster tuning has to be chosen, and vice versa).
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