I have tested this strategy on different time compressions and with different "Price simulation" selections. I would agree with the previous writer that there are a lot of false signals when "Price simulation" "Mix" is selected. However, when "Close" is selected, as advised by Apprentice, the false signals are eliminated but a new problem becomes apparent. When "Close" is selected, the signal no longer happens at the close of the triggering candle but rather the close of the second candle following the candle which closed above the resistance line or closed below the support line.
Although seemingly minor in comparison when used on smaller time compressions, it can make a huge difference on larger time compressions. Not only will this result in a loss of some profit in most cases, but in some cases could be the difference between a losing trade and a winning trade.
In way of correcting this flaw?