LLY -- Does the BBTrend indicator really work?

LLY has been a very strong stock over the past year -- obviously.

But when the new BBTrend indicator is viewed, does it work or is it BS?

My opinion is that it is BS. The only indicated substantial downtrend immediately follows an earnings Gap Up. In the several days following the gap, nothing trends downward.

Now look at the major uptrend (by BBTrend indicator) in March and April this year. I'd call it a non-trending flat period. When the BBTrend indicator is barely positive, in May and June, is the strongest uptrend of the chart.

So is BBTrend working or is it just BS? What is your experience with this new indicator?