The indicator presents the possibility to continue growing up. It's based on Raz Gamliel concept of the "Stock Exchange Table". Probability to grow:
Green - High
Yellow - Medium
Orange - Low
Red - Very Low
The calculation uses the value of "Total Shares Outstanding" instead of "Share Float" since TradingView doesn't support this value yet. There is an option to set the Share Float manually. Keep in mind to reset the value to 0 (zero) when moving to another stock.
There is an option to calculate some candles together as a group.
I hope you will get value from using the indicator.
Are the total shares outstanding can compromise accuracy?
RanFrank
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@akiel21, Usually, it is close to the shares float, so the calculation is fine.
In case the difference is large, it is recommended to set the value manually throw the setting view.