The red area is a price shift up.
Yellow background - signal for opening position.
If the lime range is less than the long parameter, open the long position.
If the candle is green, close the long position.
If the red range is more than a short parameter, open a short position.
If the candle is red, close the short position.
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.
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