This is the description as provided by Pascal last week:

The IWM robot uses a combination of the 5D price average and the TEV extension above or below its average.

These two elements must be put in the context of a weak bounce within a 20DMF short signal.
Therefore, IWM was overbought in such a context. If we had been in a LT buy signal, then this short term signal would not have been overbought at all.

Pascal, are we now in a ST overbought condition?