Theory :
Almost all averages can be made as an average with a generalized formula that could be simply written down as : sum of price*(something) / sum of (something). The usual averages that we have are simple moving average (SMA, where the (something) is always equal to 1), linear weighted moving average (LWMA, where the (something) depends on the calculation length), volume weighted average (where the (something) depends on the current volume) and some more ...

This version :
This version is using the range (high-low) of the bar it is calculated for as the weight. That way the bars with higher volatility are getting more emphasized and the response to price changes at those bars is accelerated. Basically, as almost all weighted averages, it is similar to simple moving average with an important difference at the times of high ranges where this indicator is much "faster" than the SMA

Usage :
You can use the color changes of this indicators as signals.

Higher Resolution Image:
https://drive.google.com/file/d/1EYHcDkj9sjys5PqUpkSbFOEYdkfmelIK/view?usp=sharing

Among the many ways that forex participants approach the market is through the application of technical analysis. By definition, technical analysis is the study of past and present price action for the accurate prediction of future market behavior. The premier tools for the practice of technical analysis are known as indicators.

When you look for one of the key indicators for your trading system, you probably will turn to the experience of several generations of successful traders.

The indicators which they use really work with and which really bring profit, it is easy to check based on their growing capital.

Indicators come in all shapes and sizes, and each helps the user place evolving price action into a manageable context. While there are many indicators to choose from, all are used to either identify market state or recognise potential trading opportunities.

One of the key benefits to utilising technical indicators is the freedom and flexibility afforded to the trader. Indicators are versatile in that they may be implemented in isolation or within the structure of a broader strategic framework. In each instance, their proper use promotes disciplined and consistent trading in live forex conditions.

*If you need any help with the installation procedure, I will gladly help you via TeamViewer.