Theory:
The Hilbert Transform itself, is an all-pass filter used in digital signal processing. By using present and prior price differences, and some feedback, price values are split into their complex number components of real (inPhase) and imaginary (quadrature) parts.
This version:
We are using the Hilbert transform in a phase accumulation mode in order to calculate how many bars are needed to accumulate enough one bar “inPhases” to reach the desired cycle. That way it adjusts / adapts to the market conditions. As such you can not adjust the parameters to get a “classical” counterpart – simply it is not going to be as anything based on fixed periods and one should forget classical periods term for this one and get used to the cycles term.
Usage:
You can use those color changes as signals.