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What
are 'Qualified' PTPs and why do they appear after unqualified
ones ?
All
PTP signals are first shown as open circles.
This shows a 'Potential' Trade Point from which you may
want to mark up a trade.
PTPs only show when the bar has completed.
i.e. for 10 minute bar it will only show at the end of the
10 minute period, when the 10 minute bar is complete.
If prices
later move to qualify the signal then the signal becomes
filled.
This shows that prices have moved through the entry price
and if you had a trade placed you would have been taken
into the market. (Depending on actual trade values placed
and broker used).
Depending on the settings for 'Qualifying' the PTP this
could be some bars later.
The
period in which a PTP becomes qualified can be set to any
number of bars. By default this is set to 3. If the setting
is to 'Hide Unqualifed PTPs' then once the PTP is confirmed
as Unqualified, i.e. after 3 bars in this case it will be
hidden from the screen.
Note
: If one waits for the Qualified PTP to appear then the
move through the entry price will have already taken place
and you would be late.
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Reference:
Q080529a
Written : 29 May 2008
Revised : 26 August 2008
TESS Real Time - Version 1.1.14
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