The black line is a zig-zag version of moving average and lower and upper aqua band is moving average of highest and lowest. These two objects calculated and move independently but they share the same length. You may change the length of moving averages to your liking.
Upper band touches indicate an uptrend while lower band touches indicate a downtrend.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.