2019-09-26 17:51:03
NR 7 - Narrowest range in last 7 periods
NR 21 - Narrowest range in last 21 periods
IB - Inside Bar - today's high is less than yesterday's high. Today's low is higher than yesterday's low
NR 7 + IB - today's candle is narrowest in last 7 periods and latest candle's high is less than second last candle's high. Latest candle's low is higher than second last candle's low
NR21 + IB - today's candle is narrowest in last 21 periods and latest candle's high is less than second last candle's high. Latest candle's low is higher than second last candle's low
3IB - 3 Inside bar.
24th July candle - call it A
25th July candle - call it B
26th July candle - call it C
In 3IB A is the candle with largest range. On 25th evening B is formed inside A. So on 25th it will be IB. And when on 26th evening u see that C's range is smaller than B's range and formed inside B then A,B and C are called 3IB
3IIB - 3 inside of Inside Bar
Difference between 3IB and 3IIB is that A and B are IB but C has bigger range than B. But C is still within the range of A.
I hope this helps.
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