The green and red colors as represented on the $ONE:$VIX moving averages indicate when you should be long or short. As with anything, it's not perfect. But I find it to be useful input in combination with other indicators. But I had to watch it for awhile before I became comfortable and got used to when it tends to whipsaw and becomes less useful as a result.

I have versions in various time frames. I'm starting to play around with it on a 1-minute chart as well, but don't have enough experience so just observing for now to see what signals it would give. Can also plug in $ONE:$VXN for QQQs and $ONE:$RVX for IWM. Have to experiment to see which time frames are more useful in these different inidcators.

I also pay attention to divergences, like those shown below