Understanding the 2 Minute Red Bar Reversal Alert

The red bar reversal (RBR) pattern is based on a candlestick chart. The server signals this alert when a stock has gone up for three or more consecutive candles, and then it has a red candle. A candle is determined to be an up candle when the open of the candle is lower than the close of the candle. This is only determined at the close of the candle (based on the time-frame).

The description of the alert will say how many candles in a row were going the same direction. This information is also available as a filter.

Default Settings

By default, the 2 minute red bar reversal alert appears when a stock has gone up for three or more consecutive candles, and then it has a red candle. This will be shown on a 2 minute chart.

Custom Settings

For '2 Minute Red Bar Reversal' alerts, you have the option to use an alert specific filter. This filter is located immediately to the right of the corresponding alert and is always optional. You can decide to leave it blank if you want to receive more alerts, or you can fill it in to restrict the number of alerts you receive. This filter allows you to specify the quality of the alert. When you set a higher number for this filter, you are telling the alerts server to display only alerts that meet a higher quality standard, resulting in fewer alerts being shown.

When setting an alert for '2 Minute Red Bar Reversal', the user can filter this based on the minimum number of consecutive candlesticks going up. This does not include the final candle because it is going in the opposite direction.

Description Column

The description of the alert will tell you how many candles in a row were going up.

Quality Column

The quality value on a scan using the '2 Minute Red Bar Reversal' alert represents the number of consecutive candles going up.