DislikedHOW TO USE THOSE THREE INDICATOR.......I MEAN HOW TO READ THE SIGNALIgnored
http://www.forexfactory.com/showthread.php?t=2331
Here are some of the meanings as I currently understand them (if anyone out there knows better, please correct me):
1. DBLHC = Double Bar Low with a Higher Close on the second bar. Signals an up trend!
2. DBHLC = Double Bar High with a Lower Close on the second bar. Signals a down trend!
The above can be triple bars or more which would represent an even stronger move.
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3. TMHTB (TBH - Two Bar High) = Two Matching Highs Trend Breakout on the second bar. Signals a up trend breakout!
4. TMLTB (TBL - Two Bar Low) = Two Matching Lows Trend Breakout on the second bar. close. Signals a down trend breakout!
The two matching lows/highs must be within a two pip difference and the more consecutive bars you have represents an even longer breakout.
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5. BuOVB = Bullish Outside Vertical Bar. Second bar totally goes lower then the previous bar but ends with a higher close then the previous bar higher close. Usually signals a continuation of an up trend.
6. BeOVB = Bearish Outside Vertical Bar. Second bar totally goes higher then the previous bar but ends with a lower close then the previous bar lower close. Usually signals a continuation of a down trend.
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7. Pin Bar/PB (Pin UP/Pin Dn) = Pinocchio Bar. It has a protrusion called the nose and it's lying to you as to where the market is heading. If the nose is up it actually signals a down market coming, but if the nose is down it signals an up market coming. But make sure that the previous bar and the bar after the nose are at similar level to each other and they act as the eyes to compliment the nose.
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8. MSL = Market Structure Low. A Market Structure Low (MSL) is the first sign of a potential reversal in prices from a downtrend to an up trend. It is usually made up of three price bars (or candles): A low, a lower low, and then a higher low. The “Low” is measured from the actual low of the candle, not the closing price. Ideally the Low and Lower Low will both be “down” bars (where the closing price is lower than the open price), whereas the third bar, the Higher Low, will be an up bar.
MSL can also be made up of two bars or candles when they both have the same low. This is known as a double bottom. Again, ideally the first bar of the double bottom will be a down bar, and the second will be an up bar.
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9. Msh = Market Structure High. It is the first sign of a potential reversal in prices. A MSH is usually made up of three price bars (or candles): A high, a higher high, and then a lower high. The “High” is measured from the actual high of the bar, not the closing price. Again, the MSH is triggered short when prices move below the low of the third bar in the MSH pattern.
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10. IB/IBS4 (IB4) = Inside Bar/Inside Bar Smallest of 4. An IB4 is simply when you have an inside bar that has a smaller range (high/low) then the previous 3 bars. Although you can also have an IB5 or an IB10 etc.
The way the I4B is played is that you would go Short or Long depending on how it's broken by price. So if price went below the IB4's low you would go Short and vice versa. But most people will have a bias on where they think price will head so they will only play a break in that direction. Some will put a BUY stop above the IB4 bar and a SELL stop below.
An IB4 has to be inside the previous bar as well as having the smallest range of the previous 3 bars. If it's not inside the previous bar then it's not an IB4.