Other things to look for are; is it squeezing and who has the momentum, is it with the bulls or bears ( white above or below orange).
Is there any divergence? If there is wait for the white to cross over the signal line and then start looking for the trade.
You can also use it to see where the current trend is, if it's above or below the zeroiline, and is the white (momentum) above or below the orange (signal line). I have been finding good success using it on the 4hr, but for the long term squeezes the daily and above seems to work quite well.
Feel free to mess around with the settings if you wish, I currently have is set to using a as the signal line.
If you have any questions drop them below or send me a message.
They Represent Squeezes - The Orange Dots are The "Loose TTM Fire" also know as a Loose Squeeze and the Green Dots are The "Strict TTM Fire" also known as a Strict Squeeze or Tight Squeeze.
If you turn on your Bollinger Bands and Keltner Channels you will notice that;
-Orange is when one side of the Bollinger Band fits inside the Keltner Channel.
-Green is when Both the Upper and Lower Channels of the Bollinger Bands fit inside the Keltner Channel.
They can be in either direction Long or Short Squeezes,
Long Squeeze means (Preventing the price going Up) and
Short Squeeze means (Preventing the price from going Down).