What it is
The weekly chart smooths out the noise of single days. Say the weekly close is above the 10-week EMA, and the 10-week is above the 30-week. The stock is then in an uptrend on a timescale big institutions care about. A daily setup that agrees with its weekly chart has bigger money on its side. One that disagrees is trading against that money.
How Breakaway uses it
W.EMA fires when the weekly close sits above the 10-week EMA and the 10-week is above the 30-week. It is a trend trait worth one point of the technical score, which is the trait count. It is also why a stock that looks strong on a daily chart can still score lower than one whose weekly picture agrees.
How to read it
A stock with MA FAN lit but W.EMA dark is usually early in a turn. The daily averages have stacked and the weekly ones have not caught up yet. Those can be the best setups when they work and the worst when they fail. When both are lit, the trend is confirmed on two timescales. Pullbacks are then more likely to find buyers.