This indicator is used to identify the market sessions, the actual trading day and the start of the New York session after the opening of the CME (Chicago Mercantil Exchange). They come with default time but it is better to modify it as follows (GTM-4 NY time):
Asia: 20:00 - 00:00 hs
London: 00:00 - 07:00 hs
New York: 07:00 - 12:00 hs
London Close: 12:00 - 16:00 hs
CBDR: 16:00 - 20:00 hs