Are signposts in the order as seen by the viewer or as it happens in story world chronology?

I searched using many different search terms along with signposts, but I didn’t find a clear answer. Do signposts describe events as they actually happened in the story chronology? Or events as they are seen by the viewer? If this is addressed somewhere (article, theory book, or analysis page/podcast) that you could share, then I would be grateful. Thank you.

Story world chronology.

The way they are presented to the Reader/Audience is covered under StoryWeaving. Films like Memento and Arrival play with StoryWeaving as a means of obfuscating and delaying a final understanding.

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