This will be the first in a series of blog posts that covers the intrices of "imperfected set-ups".
In the screenshot above, the imperfected series in question is marked with black "x"s (see our indicators section if interested in purchasing said indicator).
In early February, the “QQQ” index completed a “Buy Set-Up Series” on the Daily-Chart (as signaled by the green “Buy Arrow” above the 9 candle). This series was considered imperfected because neither the 8 or 9 candle managed to register the lowest price of the series. Our imperfected indicator marks the lowest part of the series with a black x (upon completion of the actual series). These x’s will remain on the chart until price comes down to that price-level and “perfects” the series.
In order for a completed set-up series to be considered “perfected”, the 8 or 9 candle must register the lowest price of the series (in a Buy Set-Up) or the highest price of the series (in a Sell Set-Up).
More on imperfected set-ups to follow on upcoming blogs.