From Mladen Rakic:

This is a sort of stochastic indicator on chart. If, defaults are used, then it calculates the same way as built-in stochastic that uses high/low prices. In this indicator you have choice of extended (non-standard) prices



Comparison to "regular" stochastic :



Recommendations:
*you can use it as any other stochastic
*color changes can be used as usual stochastic OB/OS signals