The parameters are the same with the Bollinger Bands plus I added smoothing.
BandsPeriod – Period
BandsShift – Shift
BandsDeviations – Deviation from the main line
Slow – Smoothing
The interpretation is simple. The line of the indicator shows the position of the price in relation to the Bollinger Bands. The outing of the indicator line out of 0 or 1 means the outing out of the lower and the upper bands respectively.