Chart error?

General Discussion / Chit Chat
1

I have noticed that MS (US scan) shows as open however closed last night under the IST green trailing stop.

2

Hi Phillip,

Thanks for the question on the price action signal “IST”.

Please see the description and explanation below, with reference to the need for a down day (red bar) for a signal to be generated.

IST = Inside Swing Trough

This is the Formation of a higher trough after lower Peaks have formed.
A Higher trough confirmed after lower peaks.

IST_TS now Active at the lower of the 2 Troughs

image
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Note: For an exit signal to occur not only must the price close below the IST_TS, the closing price must
also be lower than the opening price on the day…… Eg, a down day as shown by a red bar.

Currently the last bar is green since the close was higher (marginally) than the open.

Hope this helps.

3

Thanks David. It makes sense now.