The indicator capture a trend accurately.
The color of the color column indicates that the trend may change and the dot color change trend changes.
Sorry but these indicators are decompiled ones and codes are all scrambled, I can hardly understand them, so I prefer to not convert them.
FYI, there is a squeeze indicator already available in the library: https://www.prorealcode.com/prorealtime-indicators/ttm-squeeze-oscillator-price-version/