what does this mean? and I quote "3-bar as a pivot stop..." I guess 3-bar is a same as 3-day.... I wish tech analyst would write in English...
It might be last three bars( or any other consecutive three bars ) pivot as a stop. (H + L + C ( range + close ) of last threee bars ) divided by 3 = 3 bar pivot. Walter
example: bar 1: low $1 , high $1.10 bar 2: low $1.20, high $1.40 bar 3: low $1.10, high $1.20 basically it signals a pullback or end to an existing trend, people often use a break of the previous low to enter a counter trade or exit the previous trend trade.