This is a Bubbles indicator, where bubbles are based upon the Bollinger bands. It is aimed to show squeezes and bursts. The Indicator is combined with a Sinusoid and a PPO divergence factors, both of which confirm an up/down move.
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In the era of central bank's helicopter money, the market will always be skyrocketing up and up given enough time.
What's the strategy to profit from indices?
Only short the market when its in a state of euphoria /irrational exuberance bubble, or sell when it is confirmed (20% drawdown). Otherwise, you really have no reason not to long at every chance....