[Ravique]

If i remember correct it is a MACD with the setting 5 34 5 , bust it was made in an another indicator. It has two lines, and it gives a buy or sell signal when the cross, but trading using one indicator is pretty risky.
There is a problem with this indicator , because it changes it`s historical values, this is why it has no good use. But still, if you wan`t to use it it is better to do it in a traendy market, just like the most of other indicators. It can be applied to any chart, it`s your preference basicly.