Set spread value from your broker, eg my broker has a spread of 0.0003 for EURUSD. You can set your required profit ratio eg 1.5 means risk 1 to win 1.5. Enter if price crosses orange (or set a buy stop order or sell limit order) and set stoploss at red and take profit at green. Setup lasts for 20 bars. If it doesn't cross the orange in that time, forget it. Long if red is below orange, short if red is above orange. Recommended to be used on 4H, D, W charts only. Use at your own risk. I cannot be held liable for any damages financial or otherwise, directly or indirectly related to using this script and trading strategy.
Copyright 2014 Michael Edwards (info@bollingerfanboy.com) bollingerfanboy.com
No offense, please. But, this is the one of the worst indicators, EVER. LOL! It does a bunch of nothing. I literally laughed when looking at it on my screen. I know this was done with a good purpose, but it really does not work. Good idea though ...