Date : 20 FEB 2007 16:48:06 GMT Subject : Bulletin: U.S. stocks erase Tuesday declines, pushing Dow industrials to all-time high. a daily B2B?
I don't believe you can call that last bar "increasing black" when if you look at price, you can see that a significant portion of that bars volume had to be red. It's a split bar.
Would you mind elaborating on this statement a little? How do you look at price and see this exactly? Thanks pro.
Sure thing. If you look at that bar, the range of the bar was wide yet the price closed just a tick above the open. This tells you that if you had been watching it in real time, you would have seen price hit both those extremes and then settle down in the middle somewhere. Now compare this in your mind to a bar that opens at the bottom of its range and closes at the top. Think in terms of purity. How pure is that bar's black volume? It can't be very pure if by looking at the open, close, and range, you can determine that there's a good deal of "red" volume in the mix. What would be really cool is if someone could program volume rays whose color intensity varied based on the bar's purity. Like an "all up" bar would be yellow, an all down bar would be blue, and a split bar would be green (blue mixed with yellow).
Thanks Pr0crast, that makes sense. Kinda what I thought you meant but wasnt sure enough to not ask a ques
Does anyone care to comment on DKM's chart, specifically the "WTF" and how we identify them as not being FTT's as fast as we can at the forest level? Tia.
Let me give it a stab... Use what you have. How many bars does it take (minimum) to create a channel? Right, two. This is called a "tape". So, this morn I waited for bar 2 to close and I had a lower high and lower low on bar 2. Connect the highs for the RTL and clone a parralal to the low. Quiola, that's it. YOur off and watching for a pt3 to form a widened channel. Stay at forest level, but you gotta draw the tapes to get things going. Let me know if this helps.