Here's what's this about: it plots the for the current timeframe - I use 30M in the chart. This is the thinnest line. Then in adds 4h , the line is thicker. Similar for Daily and Weekly.
For the current, 4h and daily, the lookback period is 14 periods. For the weekly, it is 8. These can be changed in the settings.
When the - for any timeframe - goes above 70, the line turns fuchsia. Similarly, when it goes below 30, the line turns teal.
Three levels of overbought (70, 80 and 90) and oversold (30, 20 and 10) are marked on the graph. These levels can be tailored as well.
Ideal to be used when building alerts!
Donate if you find it useful: https://bit.ly/2VJHOQT