For each bar on the chart, the script calculates at that point for multiple lengths (e.g. 3, 7, 14, 16 etc) and displays them vertically top to bottom, fastest to slowest respectively. It indicates the actual reading (0 to 100) by way of a colour (green for overbought, red for oversold).
So for example, if the indicator shows a cluster of reds, you know that price is oversold on several lengths simultaneously.
Idea was taken from an article.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.