TTM name came from "Trade The Market"
I guess this is the initial version of TTM family indicators,later Mladen extended it to many other variations,still it is so simple and easy to use almost in any situation,TFs,Instruments - especially for scalping lovers
looks like low/high kind indicator - using EMA in this ver - it displays bull bear bars/candles
but experts can better explain
Use it only if it can benefit you. Leave it if you don't know how to use it optimally.