Calculation wise its just 3 Median averages, displaced...
as for interpretation your guess is as good as mine.
sorry.
Sven
Metas*tock style fomula below....
Jaw :=Ref(Wilders(MP(),13),-ShJw);
Teeth := Ref(Wilders(MP(),8),-ShTth);
Lip := Ref(Wilders(MP(),5),-ShLp);
{Chaos Blue BL}
{Alligator Blue Balance Line - Jaw }
{13 bar smoothed average offset 8 bars }
{Chaos Red BL}
{Alligator Red Balance Line - Teeth }
{8 bar smoothed average offset 5 bars }
{Chaos Green BL}
{Alligator Green Balance Line - Lip }
{5 bar smoothed average offset 3 bars }
GatorUp := if(Teeth>Jaw,Teeth-Jaw,Jaw-Teeth);
GatorDn := if(Jaw<Lip,Jaw-Lip,Lip-Jaw);
{ Chaos Alligator }
GatorUpGr:=If(GatorUp>Ref( GatorUp,-1) , GatorUp,0 );
GatorUpRed:=If(GatorUp<Ref( GatorUp,-1) , GatorUp,0 );
GatorDnGr:=If(GatorDn<Ref(GatorDn,-1) , GatorDn,0 );
GatorDnRed:=If(GatorDn>Ref(GatorDn,-1) , GatorDn,0 );
{ Plot as histogram }