What is the significance of the 288 SMA?

I heard of it being used. It seems to provide very good support and resistance. My question is, what is it? the equivalent of the previous day's data? A higher timeframe moving average? how do you come up with the the 288?

is it fib numbers, prime numbers, etc.

Any help is appreciated.

If you put it on a 5 min chart, it benchmarks the daily mean, in a 24 hour market like forex. 5 x 288 = 1440. 1440 is the number of minutes in a day.

thanks for the reply.