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The indicator that you follow is the blue and red line. One is a RSI signal and the other is a component of the TDI indicator, iirc.

When they get into the overbought and oversold zones, which are the dark pink and dark blue zones, that indicates that the trend is likely to reverse.

You only get one or two signals per month for each currency pair but they tend to be good, based on what i've seen. I don't think this would work for crypto trading, though.