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