This indicator has first been published on mql4.com here (Russian). The indicator is built by four points forming the pattern.

1. Open 
2. High 
3. Close 
4. Low

It works on H1.

The idea of the system – is visual defining of the subsequent movement. The author proposes the following interpretation:

• If the last figure is narrowing and that narrowing is less than the figure's base, a trend is expected to be continued (at least by the size of a base).
• If the last figure has expansion exceeding the figure's base, the trend will possibly change (at least by the size of a base).
• If the figure's base and end are visually equal, correction is expected.

Settings:

• TimeBar - number of days for processing.
• WIDTH - width of plotted lines.