Theory :
This indicator is using the asymmetric way of calculating the bands instead of using same distance for up and down bands, and then it is converted to an oscillator. One of the 4 possible average types can be used :
Usage :
The oscillator can be used as an estimator of the current trend strength

Smoother momentum MACD with floating levels
Smoother momentum MACD with floating levels
Smoother momentum MACD
Smoother momentum MACD
Asymmetric bands oscillator - extended
Asymmetric bands oscillator - extended version
Smoother rainbow
Smoother rainbow