Jackie, I am waiting for Almond Bread to define up and down for us. Mr. Good Bar has many daffynitions. IMO trading is all about the quality of the current bar versus the quality of the previous bar. Up and down are certainly good bar qualities. But we are not Jack Hershey. We must be precise and quan-tit-tative.
OK. I'll wait until there is something more substantial. I can see where a definition of up and down with regard to a bar is vital to understanding entering a trade. I'm intrigued by this "short sale" stuff I've seen elsewhere here on ET. Are up and down reversed from a short perspective?
Why don't we define a good bar as any bar that closes above the high of the previous bar, or closes below the low of the previous bar.
For the drinking bar I would think that the number one would have to be how many women in the place are willing to go home with you in relation to how many other guys she can talk to. For the trading bar I think finding the right time length(s) to give the best setups. I think that using and testing different bar times you can finds patterns that you may not find by falling in love with one or two bar lengths of time. Traders often talk about price and volume but if you don't add the third component of time you will miss the relevance of the first two.
I'll help out here, if close of bar is less then open, it is a down bar, if close is greater then open, it's an up bar, and if close is equal to open, it's an outlier.
Very GOOD, class. By acclamation we know that the most important measure of bar-to-bar quality, aside from the falling down drunk pussy, is a higher or lower close. But even the dumbest ET newbie could look at the attached stoplight chart and conclude that a system based solely on that criterion has a shitty expectation. So we need another test, do we not? Don't be shy. Tell me. (As an aside to those of you who have been my faithless followers over the years, please don't let anybody in on the joke.)
Oh man, I'm glad I caught this bad boy before they moved it chit-chat (chill out Champ). Sorry I couldn't back to you earlier, I was busy in the ususal ET flame war (man, should've dropped by here earlier though). In regards to Up vs Down bars, weeeeeeeelllllllll ... I honestly have to go with your definition: The Up Bar = falling down drunk pussy The Down Bar = wanna "get to know you" It's pretty obvious where the money shot is!
Now you have to keep those red and green bars going as long as the new bar is not lower than the low or the high of the first signal. If a new bar creates another signal we use that bar as a reference.
So - "if close of bar is less then open, it is a down bar" is a down bar even if its Open and Close are both higher than the range of the previous bar? Does it make any difference if I'm short or long?