I haven't tested it out for tick charts and I have noticed that this is good on index and commodity , and not so much other things.
Uncanny to me how well this works as reversal awareness for ES. Doesn't mean that one will happen, or if it does that it will have trade-able juice, though it is very important awareness never-the-less.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.