It is designed to give you 'BUY' signals only so watch out for bearish markets! It works best on higher timeframes i.e. from H4 and above for swing trades. Works on all markets.
Some of the other features of this tool are:
1. Highs/Lows - you do not have to worry about highlighting the highs/lows. Of course this is great for identifying your directional bias. 2. Support/resistance levels - colour coded support and resistance levels are marked up for you for all timeframes. I recommend you mark them with a horizontal line and label the timeframe should you wish to go to the lower timeframe for your entries.
It is also recommended that you follow market structure and do a top-down analysis for best results.
You can also set alerts when there is a signal for your favourite pairs so you don't need to watch the charts all the time.