powershell parameter

Hi Guys,

I have found script online and it contains this code:

Param (
        [parameter(Position=0,ValueFromPipeline=$True,ValueFromPipelineByPropertyName=$True)]
        [Alias('FullName')]
        [string[]]$Path = $PWD,
        [parameter(ParameterSetName='Filter')]
        [string[]]$Filter = '*.*',    
        [parameter(ParameterSetName='Exclude')]
        [string[]]$ExcludeFile,              
        [parameter()]
        [int]$MaxAge,
        [parameter()]
        [int]$MinAge
    )

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I really need to understand what this is saying and I am trying to advance in powershell.

to begin with what does this line mean:

[parameter(Position=0,ValueFromPipeline=$True,ValueFromPipelineByPropertyName=$True)]

please can someone give an explantion with examples.

thank you in advance.

Regards,
Kelly