Similar to how a donchian% of channel helps to visualize trend and volatility, this tool helps identify those same characteristics, if the oscillator is generally above the 50 mark, it is considered to be trending upwards, and the reverse if it is generally bellow 50.
@RicardoSantos Thanks for sharing this with community! may I suggest to add a multi timeframe (TF) optionality (i.e. ability to add this indicator calculated based on a 1m TF on a 5m TF chart).