NOTES: As x, k and d use; 21-10-3 for 1 Hour candles 5-4-2 for 4 Hour candles 21-21-3 for 1 Day candles
Yellow plot is the main oscillator. Orange plot, and hlines at 20, 50 and 80 can be used as signal lines. I personally use hlines as the signal in 1H as it's the best timeframe for the indicator.
If you are in a long position, sell when yellow plot crosses 80 or 50 line downwards; and buy when the line crosses 20, 50 or 75 upwards while you are not in a trade.