this indicator represents a linear regression with a gradient color based on the slope and standard deviation of the slope. It has adaptive length, so it kinda measures the slope of the linear regression of the dominant cycle.
It's just another sidetrend detection tool (like e.g. KAMA).
Why is the measurement of the slope of the linear regression...
Here, I modified the script "Trend Intensity Index" (TII) of @everyget.
TTI was developed by M.H. Pee, who also published other trend analysis indicators like the Trend Trigger/Continuation Factor
It helps to determine how strong the current trend is.
The stronger the trend, the higher the chance the price may continue moving in the current...