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Normally indicators that repaint have one signal in peaks and bottoms but this one looks like it does not because it gives many attempts and shows you the attempts.
This strategy is very useful. I take a position, when price come over the bands and wait till 4h candle goes below previous low of candle for short position and vise versa for long position. Stop loss is always above previous high for short positions and vice versa for long positions. I made some good amount of pips with that strategy.