Iterative Refinement

[Mr_Black]

Green is my favorite color....

 

[Spydertrader]

Quote from romanus:

That bar remained red for the first 4 minutes and turned black at the last minute.

Again, this is incorrect. The bar made a lower low. As such, the bar is Red. The bar remains Red unless and until it turns into an Outside Bar. Simply because your charting software performs an action by default, doesn't mean that default action is a correct one.

- Spydertrader

 

[sscott]

Quote from guavaman:

A: Since the price bar made a lower low and did not break the high of the previous bar (while closing above its open) the price and volume bars are considered red.

B: Yes, inside bars can be IBGS.

AAAAAHHHHHHH!!!

 

[romanus]

Quote from Spydertrader:

The bar made a lower low. As such, the bar is Red. The bar remains Red unless and until it turns into an Outside Bar.

- Spydertrader

Got it! Thanks a lot for clarifying!

 

[sscott]

Quote from Spydertrader:

Again, this is incorrect. The bar made a lower low. As such, the bar is Red. The bar remains Red unless and until it turns into an Outside Bar. Simply because your charting software performs an action by default, doesn't mean that default action is a correct one.

- Spydertrader

Please look at the chart and see if I have this right.......

 

[Spydertrader]

Quote from sscott:

Please look at the chart and see if I have this right.......

The bottom of your chart (red bars colored black) you have correctly interpreted. The top of the chart (The Outside bar) you have not. You also missed another IBGS.

- Spydertrader

 

[sscott]

Quote from Spydertrader:

The bottom of your chart (red bars colored black) you have correctly interpreted. The top of the chart (The Outside bar) you have not. You also missed another IBGS.

- Spydertrader

Ok, thanks....I see the outside bar at the top that should stay a color shift to red, but would you please point out the IBGS so I know what is really supposed to look like. (can it be recognized on a static chart?)

 

[romanus]

Quote from sscott:

Ok, thanks....I see the outside bar at the top that should stay a color shift to red, but would you please point out the IBGS so I know what is really supposed to look like. (can it be recognized on a static chart?)

May be this can help?

http://www.elitetrader.com/vb/showthread.php?s=&postid=1802091&highlight=ibgs#post1802091

 

[guavaman]

Quote from sscott:

but would you please point out the IBGS so I know what is really supposed to look like.

The last two on the bottom (14:25 and 15:05) you pointed out are IBGS's so yes they can be spotted on a static chart

 

[sscott]

Quote from guavaman:

The last two on the bottom (14:25 and 15:05) you pointed out are IBGS's so yes they can be spotted on a static chart

Got it!!!! Revised the chart, learned alot today, thanks..........