Not a huge fan of bands myself as they are arbitrary and hard to trade. Looks a bit like LBs COG channels. Straight Heiken Ashi bars are more useful than color bars as well. You like them so thats all that matters.
I'm not certain as to the mechanics of cog channels, but yes it does behave in a similar manner. I just tested with Heiken Ashi and noticed a lot less false positives with regards to direction change, while holding well for highlighting entry/exit zones. Definitely going to investigate more when I have my main PC back together.