I started using this and it seems to be working. I did have some $160 bets come up on red or black but they came through.
I have two suggestions for improvement. One suggestion is to get $6 instead of $5 when you need to go red or black. This way, you will continue to make a dollar when you win. Second one is to add a bet to red or black when 5 or 6 consecutive colours come up. For instance, after using the normal bet and six reds come up, place $5 on black as another bet while continuing to use the normal $1 bets.