This is a for an entire currency group (majors and crosses). So if you are wondering whether the entire group will reverse this might help. For example, if you are think the USD group will roll over you can see an amalgamated of AUDUSD , NZDUSD , USDJPY , USDCHF , EURUSD , GBPUSD , USDCAD (average of all of them). The concept is that it might give help to identify 2 opposing currencies - an overbought currency verses an oversold currency.
Also, if your 'classic' instrument specific is showing an entry, does the the entire currency group agree?
There's more! You can also see the of the timeframe above on the current timeframe. You're current period tells you you've an entry and the from the timeframe above can indicate there is momentum in your direction. (There is a classic version of this on my profile)
There is a limit to how much I can fit into a single indicator so if you want to see the current and timeframe above together (recommended) you need to overlap the indicator on itself. See below
You can create a dashboard combined with 'currency relative strengths' (that indicator is on my profile) as per below. You now have an idea of the currency strengths, which currencies are correlating and potential turning point to help you decide which currencies to focus on...
gbp group COULD be ready to buy
chf group COULD be ready to sell
gbpchf - wait for the 3 min chart to roll over and an its not a bad call (considering it took 60 secs to review the market and choose an entry with the possible backing of the entire currency groups :o) )
REMEMBER, YOU CAN'T THIS TRADE FROM THIS INDICATOR. LOOK AT IT TO UNDERSTAND WHAT THE MARKET MIGHT BE DOING AND FOCUS YOUR DETAILED ATTENTION BASED ON YOUR CONCLUSION.