It’s an overlay indicator (it displays directly on the chart), and it is also a custom designed script by a user on TradingView (but it is also free).
For the purposes of this example, I decide dot use $ZILBTC (this is not a full analysis, just looking at the CM Super Guppy.
Also, I believe that this is where you can find the script now:
Not sure why it has become so difficult to find the script on TradingView. He may be doing some stupid shit with it. No clue, but I’ll map out what I know to be true about it.
You see all of those lines there? These are an aggregate of a bunch of diff MA values
Here’s the actual code that the user in that TradingView link (above):
// Daryl Guppy Super EMA's study = https://pastebin.com/4362iwJX
So, the first picture above ^ speaks for itself in a lot of ways and probably doesn’t need to be elaborated on.
However, the second one may need a bit of explanation:
A) Green Lines = Uptrend
B) Red Lines = Downtrend
That’s simple & intuitive enough. That matches the colors + price movements of the candles that we all use.
Whenever you have nothing but grey lines (i.e., no grey or red lines — JUST grey ones), that means that MAJOR price action is going to occur (could be negative or positive).
Generally, that price action will be in the direction that the price is moving at the time. You can even see this in the most recent picture above ^ ^
Whenever the CM Super Guppy is showing those orange lines when there’s nothing but red lines, that’s a trend confirmation.
Also, there’s a blue line on the indicator that I have, this tends to serve as a pretty reliable resistance/support point & a pivot for price.