This indicator drops to EMA
on your chart. by default it's using different number of bars to calculate the short and long range indicators per time frame. This system is wildly used by professionals to avoid false reading on market's trend and better make decisions. Remember, the crossing of these two indicators should not be used for getting a signal. Instead, you can look into long indicator to see the global market's trend and look at short indicator if the market is reversing the direction of trend to avoid false signals by other systems you may use.
There is also an input and when you check mark the check box, you can tweak the numbers and the two custom numbers will totally override the default ones to make it suite your needs.