export class TestDataBindingComponent implements OnInit{
@Input() childStatus;
@Output() childStatusChange = new EventEmitter();
ngOnInit(){
setTimeout(()=>{
this.childStatus = false;
this.childStatusChange.emit(this.childStatus);
},5000);
}
}

<test-binding [(childStatus)]="parentStatus">

parentStatus: {{parentStatus}}

import { Component,OnInit } from '@angular/core';
@Component({
selector: 'my-app',templateUrl: './app.component.html',styleUrls: ['./app.component.css']
})
export class AppComponent implements OnInit{
parentStatus: boolean = true;
ngOnInit(){
setTimeout(()=>{
this.parentStatus = true;
},10000);
}
}