How it works
it is calculated as a Moving Average, this Moving Average is re-smoothed. The arrows display places of changing the direction of the Moving Average.
Despite the name of the indicator it is not the indicator with a well known T3 smoothing.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1149
Bill William's Gator Oscillator which is drawn on the high and displayed on the lower timeframe.AC_HTF
Bill William's accelerator (Accelerator Oscillator) which is drawn on the high and displayed on the low timeframe.