This option appears when Lookback Period is 2 or greater.

Max
This mode holds on to the maximum Long and Short Input value of the Lookback Period.  It searches for the maximum value starting at the Displacement bar and looks backwards the number of Lookback Period bars.  Use this setting to extend forward any signal that occurred during the Lookback Period.

I.E.  For reference, the current closed bar = bar[0], one bar back = bar[1], two bars back = bar[2].  If the Lookback=5 and Displacement=1, this will show a signal if any signal occurred from bar[1] to bar[5].  The signal will not be seen on the bar it occurred (bar[0]).  It will be delayed by one bar, because Displacement=1.  Effectively, this mode extends the Input signal forward for 5 bars, starting 1 bar after the signal occurred.

Min
This mode operates like the Max mode, except Min mode holds on to the minimum Long and Short Input value.  Use this setting to find and extend non-signal bars that occur during the Lookback period.

I.E.  For reference, the current closed bar = bar[0], one bar back = bar[1], two bars back = bar[2].  If the Lookback=5 and Displacement=0, this will show no signal if any of the previous 5 bars (bar[0] to bar[4]) is a non-signal bar.  Effectively, this mode cancels the current Input signal (bar[0]) if any of the previous 4 bars (bar[1] to bar[4]) is a non-signal bar.  Thus to get a signal out, the current bar and the previous 4 bars must all have a signal.

Average
This mode mathematically averages the Input values within the Lookback Period, beginning on the Displacement bar.