Dots is a custom indicator for MT4 and MT5 coded by EarnForex.com. It was originally developed by TrendLabotory. It is a trend detector that displays its values in the form of colored dots (or circles) directly on the chart.
If configured properly, it can give rather accurate trend-changing signals with little lag. Unfortunately, there is no one size fits all settings that would work in all market conditions for this indicator.
More information about this custom MetaTrader indicator is available here: https://www.earnforex.com/metatrader-indicators/Dots/
Any contributions to the code are welcome!