This depiction of a seated Buddha with the right hand raised and facing outwards has two common meanings. The first is that of the Protection Buddha, as the raised right hand symbolically represents a shield. The second meaning, Overcoming Fear, is closely related to the first (since one who is receiving protection would be less fearful).
The main features of this pose, aside from the raised right hand, is that The Buddha can be depicted either sitting or standing, and the left hand may either be extended outward or palm up in the lap. This statue signifies courage and offers protection from fear, delusion and anger.