Wait until a trend changes (bars colors from red to blue)
Open a buy on the first up-arrow.
SELL:
Wait until a trend changes (bars colors from blue to red)
Open a sell on the first down-arrow.
Set your SL from 15 to 50 pips (depends all on a pairs volatility). If your SL got hit, enter on the next opportunity only if the new entry arrow is higher/lower than your previous SL.
Set your TP 2 times your SL. Great risk/reward ratio indeed