This is a fairly new indicator which can be used for scalping the small timeframes. It can work alone but it not advised to use it as such as there are instances where the signal lags or fails. So use this indicator along with your other indicators and use a trailing stop to catch some profits. If you are using it on small timeframes, make sure you take your trade to breakeven as soon as possible.
The indicator is giving a buy signal when there are 2 consecutive green bars which has already closed and gives a sell signal when there are 2 consecutive red bars which has already closed. When there are no bars, it means that the indicator is not seeing any trade opportunity.
So, go ahead and play with it.... If you come us with some nice stuff, then please share with us.
Thank you