Glossary: the words our tools print.
Four questions, in the same order, for every word: what it reads, how it is computed, why that information matters, and what it does not tell you. Each one comes with a worked number, and none of them is a forecast.
Tap a dotted word to read its entry where you are: ATR (average true range)What it reads. How far a typical recent bar travels, in the instrument’s own price units.How it is computed. Wilder smoothing of true range: ATR = previous ATR + (TR − previous ATR) ÷ 14, the same series as TradingView’s ta.atr.Why that information matters. It is the unit to read a distance in: 10 points is wide where bars cover 4 and narrow where they cover 20.What it does not tell you. It measures range already traded. It says nothing about direction or the size of the next bar.Full entry →, Tick valueWhat it reads. The money one tick of movement is worth on one contract.How it is computed. tick value = tick size × point value: on ES 0.25 × $50 = $12.50, on MES 0.25 × $5 = $1.25.Why that information matters. It turns a distance in ticks into money, the form a risk budget is written in.What it does not tell you. It is per contract and before costs. Commission and slippage come on top.Full entry →, R (one unit of risk)What it reads. The planned loss on a trade, used as the unit every other distance and result is counted in.How it is computed. 1R = |entry − stop| × point value × units + costs. A favourable move of twice the stop distance is +2R.Why that information matters. Counting in R makes trades of different sizes and markets comparable, and turns a daily limit into a count.What it does not tell you. R is a unit, not a result: a target 3R away says nothing about whether it is reached.Full entry →, Value area (VAH, VAL)What it reads. The price band around the POC that holds 70% of a session’s volume. Its top is VAH and its bottom VAL.How it is computed. Start at the POC and extend toward the heavier neighbouring rows, one step at a time, until the band holds 70% of the total.Why that information matters. Its edges are where the prior session’s accepted prices end, so opens and closes are described against them.What it does not tell you. The 70% is a convention: a different percentage or row height moves both edges.Full entry → or % READYWhat it reads. The card’s READY figure: how much of the confirmation checklist is met, not a win probability.How it is computed. Each condition met adds its share: the reclaim, the required hold, the zone cleared, within reach, a level 3R above, price above the level.Why that information matters. The card names the condition still missing, so a 72% setup is visibly not a confirmed one.What it does not tell you. It counts conditions met. It is not a grade or an estimate that the setup will work.Full entry →. The same words open the same way across our free tools.
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· the last change to its entries
Sessions and levels
Where a trading day starts and ends, and the words for what price has already done at a level.
Exchange session
Also written: trading session · trading day
- What it reads
- The window the exchange itself defines as one trading day for a symbol, start to end, in its own timezone.
- How it is computed
- Read from the symbol’s declared hours and the timezone database, so daylight saving moves with the exchange.
- Why that information matters
- Every daily level, range and running total is cut at this boundary. A wrong boundary moves all of them.
- What it does not tell you
- It is a calendar fact. It says nothing about whether a session will be busy, quiet or worth trading.
CME equity futures open 18:00 ET Sunday to Thursday and close 17:00 ET the next day.
→ A bar at 19:30 ET on Monday belongs to Tuesday’s session, which runs 23 hours.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · Market hours
See alsoETH (extended trading hours) · RTH (regular trading hours)
ETH (extended trading hours)
Also written: ETH · Globex session · overnight session · electronic trading hours
- What it reads
- The whole electronic session, including the hours outside the regular stock-market day.
- How it is computed
- From the session open to its close on the exchange clock: for CME equity futures 18:00 to 17:00 ET, with a 60-minute break.
- Why that information matters
- Levels built on ETH include the overnight trade, so they can sit at different prices from the same levels built on RTH.
- What it does not tell you
- It does not say how much traded overnight. Thin hours count the same as busy ones.
An ES session with an overnight high of 5,042.00 and a regular-hours high of 5,031.50.
→ ETH high 5,042.00, RTH high 5,031.50: a 10.50-point difference in the same day.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · Market hours
See alsoRTH (regular trading hours) · Exchange session
RTH (regular trading hours)
Also written: RTH · regular session · day session · cash session
- What it reads
- The slice of the session that matches US stock-market hours: 09:30 to 16:00 ET for US equity products.
- How it is computed
- A clock window on the exchange calendar. For a CME equity future, a slice of the longer electronic session.
- Why that information matters
- Opening ranges and prior-day levels are often cut from RTH alone, so the window behind a level changes its meaning.
- What it does not tell you
- It is a time window, not a measurement. An early-close day is still RTH while it lasts.
ES regular session, 09:30 to 16:00 ET, on a full trading day.
→ 6.5 hours: 390 one-minute bars, against 1,380 in the 23-hour electronic session.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · TE Previous Session Structure (TradingView) · Market hours
Opening range (OR)
Also written: OR
- What it reads
- The high and low traded in the first minutes of a session, 30 by default.
- How it is computed
- OR high = max(high), OR low = min(low) over bars with open ≤ t < open + 30 minutes, counted in time, not bars.
- Why that information matters
- Its edges are the first reference the rest of the session is measured against, and its width says what kind of open it was.
- What it does not tell you
- It records the first 30 minutes only. It does not say which edge, if either, price will close through.
First 30 minutes of an ES regular session: high 5,021.25, low 5,008.75.
→ OR = 5,008.75 to 5,021.25, 12.50 points wide.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · APOLLO ONE
See alsoInitial balance (IB) · FORMING · SET
Initial balance (IB)
Also written: IB
- What it reads
- The high and low of a session’s first hour, the market-profile convention.
- How it is computed
- IB high = max(high), IB low = min(low) over open ≤ t < open + 60 minutes: the first two 30-minute periods.
- Why that information matters
- It is the wider, slower reference beside the opening range. A day that stays inside it and one that leaves it differ.
- What it does not tell you
- It measures the first hour. It is not a stop distance and not a target.
First hour of an NQ regular session: high 18,240.50, low 18,166.00.
→ IB = 18,166.00 to 18,240.50, 74.50 points wide.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · APOLLO ONE
Prior-session levels
Also written: PDH · PDL · PDC · prior day high · prior day low · overnight high · overnight low · previous week high · previous week low
- What it reads
- Highs, lows and closes of finished periods: the previous day, the overnight stretch, the previous week.
- How it is computed
- Each period is closed and published before the current bar counts into the next, so none holds a bar it precedes.
- Why that information matters
- Everyone can see them, and knowing which period a line came from tells you the scale to read it at.
- What it does not tell you
- A past price carries no claim that price reacts there, and nothing here ranks one level over another.
Previous day high 5,040.00, low 4,988.50, close 5,012.25. Last price 5,019.00.
→ PDH 21.00 points above, PDL 30.50 below, PDC 6.75 below.
Used byTE Previous Session Structure (TradingView)
See alsoSET · BROKEN BELOW · RECLAIMED
Reclaim
- What it reads
- Price returning to the side of a level it was on before it broke through.
- How it is computed
- A confirmed close back on the original side after at least one close beyond the level. A wick back is a touch only.
- Why that information matters
- It separates a level price has left behind from one it has fought back to, which decides whether the level is still in play.
- What it does not tell you
- One close back says nothing about whether the next one holds. Acceptance asks that separate question.
Level 5,000.00. One-minute closes: 4,996.50, 4,994.25, then 5,001.75.
→ The third close, 5,001.75, is the reclaim. The first two were closes below.
Used byAPOLLO ONE
See alsoAcceptance · RECLAIMED · Flush
Acceptance
Also written: hold · minimum hold
- What it reads
- Whether price has stayed on the reclaimed side of a level long enough to count as holding it.
- How it is computed
- A required run of confirmed closes at or above the level: 3 one-minute closes in APOLLO ONE by default, more after a deeper flush.
- Why that information matters
- A reclaim is not acceptance: the hold separates a level that held from one that was only touched.
- What it does not tell you
- A held level can still fail on the next bar. Acceptance is a condition, not an outcome.
Level 5,000.00, required hold 3 minutes. Closes after the reclaim 5,001.50, 5,002.25, 5,000.75.
→ Three closes at or above 5,000.00: the hold reads 3 of 3.
Used byAPOLLO ONE
OPEN ABOVE RANGE
- What it reads
- The session opened above the whole of the prior session’s traded range.
- How it is computed
- open > prior session high, checked once on the session’s first bar.
- Why that information matters
- The open is trading at prices the prior session never reached, so none of its structure sits overhead.
- What it does not tell you
- It describes where the open printed. It does not say whether price returns into the prior range.
Prior session high 5,040.00, value area high 5,028.00. Open 5,046.50.
→ 5,046.50 > 5,040.00: OPEN ABOVE RANGE, 6.50 points above.
See alsoOPEN ABOVE VALUE · Value area (VAH, VAL) · Prior-session levels
OPEN ABOVE VALUE
- What it reads
- The session opened above the prior value area but still inside the prior session’s range.
- How it is computed
- prior VAH < open ≤ prior session high.
- Why that information matters
- The open sits above where most of the prior session’s volume traded, on prices that session did reach.
- What it does not tell you
- It is a location at one instant and carries no claim about the direction of the session.
Prior high 5,040.00, prior VAH 5,028.00. Open 5,033.25.
→ 5,028.00 < 5,033.25 ≤ 5,040.00: OPEN ABOVE VALUE.
See alsoOPEN INSIDE VALUE · ABOVE VALUE
OPEN INSIDE VALUE
- What it reads
- The session opened inside the prior session’s value area.
- How it is computed
- prior VAL ≤ open ≤ prior VAH. An open exactly on an edge counts as inside.
- Why that information matters
- The day starts where the prior session did most of its trading, a different starting point from an open outside it.
- What it does not tell you
- It says where the first price printed, nothing about how far the session will travel.
Prior VAL 5,004.00, prior VAH 5,028.00. Open 5,015.50.
→ 5,015.50 lies between the edges: OPEN INSIDE VALUE.
See alsoINSIDE VALUE · Value area (VAH, VAL)
OPEN BELOW VALUE
- What it reads
- The session opened below the prior value area but still inside the prior session’s range.
- How it is computed
- prior session low ≤ open < prior VAL.
- Why that information matters
- The open is under where most of the prior session’s volume traded, on prices that session did reach.
- What it does not tell you
- It describes the open. It does not say the session will move up or down from there.
Prior low 4,988.50, prior VAL 5,004.00. Open 4,997.75.
→ 4,988.50 ≤ 4,997.75 < 5,004.00: OPEN BELOW VALUE.
See alsoOPEN BELOW RANGE · BELOW VALUE
OPEN BELOW RANGE
- What it reads
- The session opened below the whole of the prior session’s range.
- How it is computed
- open < prior session low, checked on the session’s first bar.
- Why that information matters
- The open is at prices the prior session never traded, so none of its structure sits underneath.
- What it does not tell you
- An open below the range is a location, not a forecast of follow-through or of a return.
Prior session low 4,988.50. Open 4,979.00.
→ 4,979.00 < 4,988.50: OPEN BELOW RANGE, 9.50 points below.
See alsoOPEN BELOW VALUE · Prior-session levels
ABOVE VALUE
- What it reads
- The last close sits above the prior session’s value area high.
- How it is computed
- close > prior VAH, re-checked on every closed bar. A close on the edge counts as inside.
- Why that information matters
- Price is trading above where the prior session did most of its business, now rather than at the open.
- What it does not tell you
- It is reported, not interpreted: being above value does not mean price stays there.
Prior VAH 5,028.00. Last close 5,031.25.
→ ABOVE VALUE, 3.25 points over the edge.
See alsoINSIDE VALUE · Value area (VAH, VAL)
INSIDE VALUE
- What it reads
- The last close sits within the prior session’s value area, edges included.
- How it is computed
- prior VAL ≤ close ≤ prior VAH on the latest closed bar.
- Why that information matters
- Price is back where most of the prior session’s volume traded, the band both edges are measured from.
- What it does not tell you
- Inside value is a position with no lifecycle. It says nothing about which edge comes next.
Prior VAL 5,004.00, prior VAH 5,028.00. Last close 5,028.00.
→ The close equals the 5,028.00 edge, which counts as inside: INSIDE VALUE.
See alsoABOVE VALUE · BELOW VALUE
BELOW VALUE
- What it reads
- The last close sits below the prior session’s value area low.
- How it is computed
- close < prior VAL on the latest closed bar.
- Why that information matters
- Price is trading under the zone where most of the prior session’s volume changed hands.
- What it does not tell you
- It is a location now, not a statement that price keeps falling or comes back.
Prior VAL 5,004.00. Last close 4,999.50.
→ BELOW VALUE, 4.50 points under the edge.
See alsoINSIDE VALUE · Value area (VAH, VAL)
FORMING
- What it reads
- A range or level is still being built: its window has not closed yet.
- How it is computed
- Printed while open ≤ t < open + window. The high and low can still move until the window ends.
- Why that information matters
- A forming edge can still move, so reading it as a finished level is reading a number that may change in a minute.
- What it does not tell you
- It says the window is open. It says nothing about how wide the range will end.
Opening range window 30 minutes, session open 09:30 ET, time now 09:52 ET.
→ FORMING: 22 of 30 minutes gone, 8 to go.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView)
See alsoSET · Opening range (OR)
SET
- What it reads
- The level is finished and no confirmed bar has closed beyond it since.
- How it is computed
- Published when its window or period closes. It stays SET until a close on the far side, a wick alone counting as a touch.
- Why that information matters
- A finished level nobody has closed through is a different object from one price already has.
- What it does not tell you
- SET is a history of closes, not a rating. It does not say the level will hold.
Opening range set at 10:00 ET as 5,008.75 to 5,021.25. Every close since lies between them.
→ Both edges, 5,008.75 and 5,021.25, read SET.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · TE Previous Session Structure (TradingView)
See alsoBROKEN ABOVE · BROKEN BELOW · TESTED
BROKEN ABOVE
- What it reads
- A confirmed bar has closed above a level that price sat below when the level was set.
- How it is computed
- close > level for a level set with price below it. A high above it without the close is a touch only.
- Why that information matters
- It marks the level as behind price, which changes whether you read it as overhead or as structure below.
- What it does not tell you
- A close through is an event that already happened, not a signal and not a reason to act.
Opening range high 5,021.25. Closes 5,019.50, then 5,023.00.
→ The 5,023.00 close prints BROKEN ABOVE.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · TE Previous Session Structure (TradingView)
BROKEN BELOW
- What it reads
- A confirmed bar has closed below a level that price sat above when the level was set.
- How it is computed
- close < level for a level set with price above it. Only the close counts, never the low alone.
- Why that information matters
- It records the level as lost on a closing basis, a different situation from a wick through it.
- What it does not tell you
- It says what one close did. It does not say the move continues or that the level is finished.
Prior day low 4,988.50. A bar trades down to 4,985.00 and closes 4,987.25.
→ Close below 4,988.50: BROKEN BELOW (the 4,985.00 low alone would be a touch).
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · TE Previous Session Structure (TradingView)
RECLAIMED
- What it reads
- After a break, a confirmed bar has closed back on the side the level was set from.
- How it is computed
- A level that was BROKEN, then a close back on its original side. The state changes on the close, never the wick.
- Why that information matters
- A level that broke and came back has been fought over, which differs from one price has left behind.
- What it does not tell you
- Reclaimed is a record of two closes. It says nothing about whether the level holds from here.
Prior day low 4,988.50 broken below at 4,987.25. A later close 4,990.75.
→ RECLAIMED, back above 4,988.50 by 2.25 points.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · TE Previous Session Structure (TradingView)
BALANCED
- What it reads
- A live range whose edges are intact and whose volatility has not contracted much since it formed.
- How it is computed
- Born when 20 closed bars fit inside 2.0 × ATR. BALANCED while no close is outside and ATR now ÷ ATR at birth is over 0.75.
- Why that information matters
- It separates a range that is merely holding from one that is also tightening, which reads COMPRESSED instead.
- What it does not tell you
- It describes containment so far, not which edge, if either, price closes through.
Range 4,990.00 to 5,010.00 born with ATR 12.0. Now ATR 10.2, last close 5,003.50.
→ 10.2 ÷ 12.0 = 0.85 > 0.75, no close outside: BALANCED.
See alsoCOMPRESSED · RETESTED · ATR (average true range)
RETESTED
- What it reads
- After a range broke, price has come back to the edge it broke through.
- How it is computed
- Within 20 bars of the break a bar’s wick reaches the broken edge. A visit is enough, no close is needed.
- Why that information matters
- A break that price returns to check is a different situation from one it leaves without looking back.
- What it does not tell you
- It records the visit. It does not say whether the edge holds from the new side.
Range top 5,010.00 broken by a 5,014.50 close. Six bars later a low of 5,009.75.
→ The wick reaches 5,010.00 inside 20 bars: RETESTED.
See alsoBALANCED · BROKEN ABOVE
TESTED
- What it reads
- Price has come back to a level and touched it without closing through it.
- How it is computed
- A visit is a bar whose high-low range reaches the level. Each unbroken run of visiting bars counts as one test.
- Why that information matters
- A level price has returned to and left intact is a different object from one nobody has touched.
- What it does not tell you
- A touch count is a history, not a rating: it does not say whether the level is more or less likely to hold.
Level 5,000.00, price above. Three bars in a row with lows 4,999.75, 5,000.00, 4,998.50 close above it.
→ One run of visits: 1 test, state TESTED.
FLIPPED
- What it reads
- A level price closed through, revisited from the far side and not closed back through.
- How it is computed
- A BROKEN level that a later bar reaches again and closes on the new side: old support holding as resistance, or the reverse.
- Why that information matters
- It is the opposite resolution of RECLAIMED: the break held when price came back to check it.
- What it does not tell you
- FLIPPED records one revisit. It is not a forecast that the level keeps holding on the next.
Support 5,000.00 broken with a 4,996.00 close. A later bar trades up to 5,000.50 and closes 4,997.25.
→ Revisited at 5,000.50, closed back under: FLIPPED.
FILLED
Also written: gap fill
- What it reads
- Price has reached the far edge of a gap: the prior close the market opened away from.
- How it is computed
- Under the touch convention a wick reaching the prior close fills the gap. Under the close convention a close beyond it is needed.
- Why that information matters
- A filled gap and an open one are different references, and the stored convention says which definition was used.
- What it does not tell you
- It reports a fill that happened. Nothing here says whether an open gap will fill, or when.
Prior close 5,012.25. The session opens 5,026.00, a 13.75-point gap up. A later bar trades 5,012.00.
→ Touch convention: FILLED at 5,012.00.
See alsoPrior-session levels · TESTED
Volatility
How far bars travel, ranked against the market’s own history.
True range (TR)
Also written: TR · true range
- What it reads
- How far one bar travelled, counting any gap from the previous close.
- How it is computed
- TR = max(high − low, |high − previous close|, |low − previous close|).
- Why that information matters
- A bar that gaps and then sits still has moved, and plain high minus low would miss that move.
- What it does not tell you
- It is one bar’s range. It carries no direction and says nothing about the bar after it.
Previous close 5,000.00. Bar high 5,012.00, low 5,006.00.
→ max(6.00, 12.00, 6.00) = 12.00 points, where high minus low alone says 6.00.
Used byTE ATR Regime (TradingView)
See alsoATR (average true range)
ATR (average true range)
Also written: ATR · average true range · typical bar range
- What it reads
- How far a typical recent bar travels, in the instrument’s own price units.
- How it is computed
- Wilder smoothing of true range: ATR = previous ATR + (TR − previous ATR) ÷ 14, the same series as TradingView’s ta.atr.
- Why that information matters
- It is the unit to read a distance in: 10 points is wide where bars cover 4 and narrow where they cover 20.
- What it does not tell you
- It measures range already traded. It says nothing about direction or the size of the next bar.
Previous ATR 8.00, today’s true range 15.00, length 14.
→ 8.00 + (15.00 − 8.00) ÷ 14 = 8.50 points.
Used byTE ATR Regime (TradingView) · APOLLO ONE
See alsoTrue range (TR) · Time-of-day percentile
Time-of-day percentile
Also written: conditional percentile · percentile at this time of day
- What it reads
- Where the current reading sits among readings taken at the same clock time on earlier sessions.
- How it is computed
- The day is cut into one-bar slots on the exchange clock. It keeps this slot’s last 20 values, and p = share at or below now.
- Why that information matters
- It separates a big move from a busy hour: the open is wide every day, which a plain percentile cannot see.
- What it does not tell you
- It ranks, it does not forecast. A slot needs 10 sessions on file before it ranks anything.
The 10:00 slot’s last 20 ATR readings. Today’s 9.4 is at or above 17 of them.
→ p = 17 ÷ 20 = 0.85: the 85th percentile for this time of day.
Used byTE ATR Regime (TradingView) · TE Relative Volume at Time (TradingView)
See alsoTrailing percentile · ATR (average true range) · Relative volume at time (RVOL)
Trailing percentile
Also written: unconditional percentile · plain percentile
- What it reads
- Where the current reading sits among the most recent readings, ignoring the time of day.
- How it is computed
- The last 480 closed bars are ranked and p = share at or below the current value. It needs 120 bars before it ranks.
- Why that information matters
- Shown beside the time-of-day rank, it shows how much of a high reading is only the hour of the day.
- What it does not tell you
- Every hour is pooled, so a quiet slot and the open are judged against the same mixed history.
480 bars on file. The current ATR is at or above 312 of them.
→ p = 312 ÷ 480 = 0.65: the 65th percentile overall.
Used byTE ATR Regime (TradingView) · TE Relative Volume at Time (TradingView)
See alsoTime-of-day percentile
COMPRESSED
- What it reads
- The reading is in the lowest fifth of its own history: unusually narrow bars or light volume.
- How it is computed
- Percentile p from 0 to 0.20. Leaving a band takes 0.05 of margin and 2 closed bars, so the word does not flicker.
- Why that information matters
- The same distance is a big move in COMPRESSED and an ordinary one in EXPANDED, so the band sets the scale.
- What it does not tell you
- It is not a squeeze signal: a narrow market is not said to be about to widen or to move either way.
Time-of-day percentile p = 0.12.
→ 0.12 lies in 0 to 0.20: COMPRESSED.
Used byTE ATR Regime (TradingView) · TE Relative Volume at Time (TradingView)
See alsoSUBDUED · EXPANDING · Time-of-day percentile
SUBDUED
- What it reads
- The reading is in the second-lowest fifth: quieter than usual for this market at this time, not extreme.
- How it is computed
- Percentile p from 0.20 to 0.40. Moving up from COMPRESSED needs p above 0.25 for 2 closed bars.
- Why that information matters
- It says conditions are below their norm without being at the edge, a different context from either extreme.
- What it does not tell you
- A quieter-than-usual reading says nothing about what the next bars will do, or which way.
Band COMPRESSED. Then p moves from 0.18 to 0.23.
→ Still COMPRESSED: 0.23 is not above 0.25, the edge plus the margin.
Used byTE ATR Regime (TradingView) · TE Relative Volume at Time (TradingView)
See alsoCOMPRESSED · BASELINE
BASELINE
- What it reads
- The reading is in the middle fifth of its own history: an ordinary level for this market and time of day.
- How it is computed
- Percentile p from 0.40 to 0.60 of the ranked history, published once the margin and the 2-bar hold are met.
- Why that information matters
- It is the reference condition the other four bands are read against: neither stretched nor quiet.
- What it does not tell you
- Ordinary for the past is not a promise of ordinary next. The band describes bars already closed.
20 readings at this slot. Today’s is at or above 9 of them.
→ p = 9 ÷ 20 = 0.45: BASELINE.
Used byTE ATR Regime (TradingView) · TE Relative Volume at Time (TradingView)
ELEVATED
- What it reads
- The reading is in the second-highest fifth: wider or busier than usual for this market at this time.
- How it is computed
- Percentile p from 0.60 to 0.80. Moving up from BASELINE needs p above 0.65 for 2 closed bars.
- Why that information matters
- A distance that takes an hour in BASELINE can go in a few bars here, which changes the room a level or stop has.
- What it does not tell you
- Busier than usual describes recent bars. It does not say the activity continues, or which way price goes.
Band BASELINE. Then p reads 0.68 on two closed bars in a row.
→ 0.68 > 0.65 twice: ELEVATED.
Used byTE ATR Regime (TradingView) · TE Relative Volume at Time (TradingView)
EXPANDED
- What it reads
- The reading is in the top fifth of its own history: unusually wide bars, or unusually heavy volume.
- How it is computed
- Percentile p from 0.80 to 1.00 of the ranked history, after the same margin and 2-bar hold.
- Why that information matters
- Bars this wide make fixed point distances small in relative terms, so reading distance in ATR matters most here.
- What it does not tell you
- EXPANDED says recent bars were wide for this hour. It does not say they stay wide or that price will trend.
20 readings at this slot. Today’s is at or above 18 of them.
→ p = 18 ÷ 20 = 0.90: EXPANDED.
Used byTE ATR Regime (TradingView) · TE Relative Volume at Time (TradingView)
See alsoELEVATED · CONTRACTING
EXPANDING
- What it reads
- The ATR is rising: recent bars are wider than they were a few bars ago.
- How it is computed
- r = (ATR now − ATR 5 bars ago) ÷ ATR 5 bars ago. EXPANDING when r is above +5%.
- Why that information matters
- A market can sit in COMPRESSED and be EXPANDING: ranges starting to widen before the band itself moves.
- What it does not tell you
- A rising ATR describes width, never direction, and does not say how long the widening lasts.
ATR now 7.70. ATR 5 bars ago 7.00.
→ r = 0.70 ÷ 7.00 = +10%: EXPANDING.
Used byTE ATR Regime (TradingView)
See alsoSTABLE · CONTRACTING · ATR (average true range)
STABLE
- What it reads
- The ATR has barely changed over the last few bars.
- How it is computed
- The same r between −5% and +5%. The deadband stops tiny changes from flipping the word on every bar.
- Why that information matters
- It says the width of the bars is not moving either way, so the band beside it is not about to be overtaken.
- What it does not tell you
- Stable width says nothing about price direction. A stable market can still travel a long way.
ATR now 7.21. ATR 5 bars ago 7.00.
→ r = +3%, inside ±5%: STABLE.
Used byTE ATR Regime (TradingView)
See alsoEXPANDING · CONTRACTING
CONTRACTING
- What it reads
- The ATR is falling: recent bars are narrower than they were a few bars ago.
- How it is computed
- The same r below −5% reads CONTRACTING.
- Why that information matters
- It shows conditions quieting before the band catches up, since the percentile only moves after its margin and hold.
- What it does not tell you
- Narrowing bars are not a forecast of a breakout, or of continued quiet.
ATR now 6.30. ATR 5 bars ago 7.00.
→ r = −0.70 ÷ 7.00 = −10%: CONTRACTING.
Used byTE ATR Regime (TradingView)
Median 30-minute range
Also written: 30-minute range
- What it reads
- The typical distance from high to low inside one 30-minute window of the day, in points.
- How it is computed
- Per session, the window’s high minus its low from one-minute bars. The median across sessions is reported.
- Why that information matters
- It shows when in the day a market usually covers ground, which sets the scale for distances read at that hour.
- What it does not tell you
- A median describes ordinary days. Event days sit in the tail it leaves out, and range is not direction.
One slot over five sessions: 18.25, 9.50, 12.00, 30.75 and 11.25 points.
→ Sorted, the middle value is 12.00 points. The 30.75 day does not move it.
Used byBest time to trade ES and NQ
See alsoVolume share · ATR (average true range)
Volume and value
How much traded, when, and at which prices.
Relative volume at time (RVOL)
Also written: RVOL · relative volume
- What it reads
- How much this bar traded compared with what the same time of day usually trades.
- How it is computed
- RVOL = this bar’s volume ÷ the median volume of the last 20 bars in the same time-of-day slot.
- Why that information matters
- The open and lunch trade on different scales. Comparing a bar with its own slot is what makes heavy mean something.
- What it does not tell you
- It says how busy, not who bought or sold, and a symbol that reports no volume gets no number at all.
This 10:30 bar traded 42,000. The slot’s median over 20 sessions is 28,000.
→ RVOL = 42,000 ÷ 28,000 = 1.5×.
Used byTE Relative Volume at Time (TradingView)
See alsoSession pace · Time-of-day percentile
Session pace
Also written: cumulative volume pace
- What it reads
- How much the market has traded so far today compared with the same point in earlier sessions.
- How it is computed
- Volume summed from the session start to the last closed bar, ranked against the running total at this slot in the last 20 sessions.
- Why that information matters
- It says whether the day as a whole is busy or thin, which a single bar’s volume cannot.
- What it does not tell you
- A running total carries no direction, and an early-close session simply reads light.
By 11:00 ET today, 610,000 contracts. At 11:00 in the last 20 sessions, 14 totals were at or below that.
→ Pace at the 70th percentile (14 ÷ 20).
Used byTE Relative Volume at Time (TradingView) · APOLLO ONE
See alsoRelative volume at time (RVOL) · Volume share
Volume share
- What it reads
- The fraction of a whole session’s volume that traded inside one window of the day.
- How it is computed
- Window volume ÷ the session’s total volume, per session. The median fraction across sessions is reported.
- Why that information matters
- It shows when participation concentrates, so a level reached in a busy window and one reached in a thin one read differently.
- What it does not tell you
- A share of volume is not direction, and a median says little about an unusual day.
A session trades 1,600,000 contracts, 192,000 of them from 09:30 to 10:00 ET.
→ 192,000 ÷ 1,600,000 = 12.0% of the day in that half hour.
Used byBest time to trade ES and NQ
See alsoMedian 30-minute range · Session pace
Volume profile
Also written: volume at price
- What it reads
- How much volume traded at each price over a period, drawn as a sideways histogram.
- How it is computed
- Rebuilt from candles here: each one-minute bar’s volume is spread evenly over the price rows its range covers.
- Why that information matters
- It shows where a session did its business and where it passed through quickly, which a time chart hides.
- What it does not tell you
- A candle rebuild is not trade-by-trade volume at each price, and it carries no split between buyers and sellers.
A one-minute bar trades 400 contracts from 5,000.00 to 5,001.00 on 0.25-point rows.
→ Five price rows touched: 80 contracts each under an even spread.
Used byAPOLLO ONE
See alsoPoint of control (POC) · Value area (VAH, VAL)
Point of control (POC)
Also written: POC
- What it reads
- The single price row where the most volume traded in a session.
- How it is computed
- The row holding the largest volume in the profile, read once the session has closed for a prior-session profile.
- Why that information matters
- It is where the session agreed on price most, the reference the value area is built outward from.
- What it does not tell you
- Heavy volume at a price is a record, not a magnet: it carries no claim that price returns there.
Rows 4,998.00: 9,200. 5,004.50: 14,800. 5,010.00: 11,300 (the three largest).
→ POC = 5,004.50.
Used byAPOLLO ONE
See alsoValue area (VAH, VAL) · Volume profile
Value area (VAH, VAL)
Also written: VAH · VAL · value area high · value area low
- What it reads
- The price band around the POC that holds 70% of a session’s volume. Its top is VAH and its bottom VAL.
- How it is computed
- Start at the POC and extend toward the heavier neighbouring rows, one step at a time, until the band holds 70% of the total.
- Why that information matters
- Its edges are where the prior session’s accepted prices end, so opens and closes are described against them.
- What it does not tell you
- The 70% is a convention: a different percentage or row height moves both edges.
Session total 1,000,000 contracts. The walk from the POC reaches 700,000 at 4,992.00 to 5,016.00.
→ VAL 4,992.00, VAH 5,016.00: a band 24.00 points wide.
Used byAPOLLO ONE
See alsoPoint of control (POC) · OPEN INSIDE VALUE · ABOVE VALUE
VWAP (volume-weighted average price)
Also written: VWAP · anchored VWAP · session VWAP
- What it reads
- The average price traded since an anchor, weighted by how much volume traded at each price.
- How it is computed
- VWAP = Σ(price × volume) ÷ Σ(volume) from the anchor, often the session open. Charts usually price a bar at (high + low + close) ÷ 3.
- Why that information matters
- It is the average price paid since the anchor, a reference both sides of the market can see.
- What it does not tell you
- It depends on the anchor and it lags: it describes trade already done, not where price goes.
Two bars since the open: 1,000 contracts at 5,000.00, then 3,000 at 5,008.00.
→ (5,000,000 + 15,024,000) ÷ 4,000 = 5,006.00.
Used byAPOLLO ONE
See alsoVolume profile · Point of control (POC)
Risk and size
The arithmetic between a stop, a budget and a contract count.
Tick (minimum price increment)
Also written: tick · tick size · minimum tick
- What it reads
- The smallest step a price can move on an instrument.
- How it is computed
- Set by the exchange and read from the symbol: 0.25 index points on ES and NQ, 0.10 on gold (GC), 0.01 on crude (CL).
- Why that information matters
- Orders sit on ticks, so stops, entries and sizes are rounded to it. A distance is a whole number of ticks.
- What it does not tell you
- The tick size says nothing about what one tick is worth. That is the tick value.
A 3.00-point stop on ES, tick 0.25.
→ 3.00 ÷ 0.25 = 12 ticks.
Used byFutures contract reference · Position size calculator · TE Position Size and Risk (TradingView)
See alsoTick value · Point value (multiplier)
Tick value
Also written: dollars per tick
- What it reads
- The money one tick of movement is worth on one contract.
- How it is computed
- tick value = tick size × point value: on ES 0.25 × $50 = $12.50, on MES 0.25 × $5 = $1.25.
- Why that information matters
- It turns a distance in ticks into money, the form a risk budget is written in.
- What it does not tell you
- It is per contract and before costs. Commission and slippage come on top.
NQ: tick 0.25, point value $20. A 40-tick stop.
→ $5.00 per tick. 40 × $5.00 = $200.00 per contract.
Used byFutures contract reference · Position size calculator
See alsoTick (minimum price increment) · Point value (multiplier) · Round-turn cost
Point value (multiplier)
Also written: contract multiplier · per-point value · dollars per point · multiplier
- What it reads
- The money a 1.00 move in price is worth on one unit: one contract, one share or one coin.
- How it is computed
- Read from the symbol or the exchange specification: $50 on ES, $5 on MES, $20 on NQ, $100 on GC, $1 on a share.
- Why that information matters
- The same stop in points costs ten times more on ES than on MES, so the multiplier decides the size, not the chart.
- What it does not tell you
- Exchanges can change contract terms. Check your broker’s specification before sizing real money.
A 12.00-point stop.
→ ES: 12 × $50 = $600 per contract. MES: 12 × $5 = $60.
Used byFutures contract reference · Position size calculator · TE Position Size and Risk (TradingView)
See alsoTick value · Micro contract
Stop distance
Also written: stop · stop-loss distance
- What it reads
- How far the stop sits from the entry, in points, ticks and percent of price.
- How it is computed
- d = |entry − stop|. In ticks, d ÷ tick size. In percent, 100 × d ÷ entry.
- Why that information matters
- It is the one price input a position size depends on: the entry level alone changes nothing about how many units fit.
- What it does not tell you
- It is the planned loss per unit. A stop can gap or slip past its price, so a realised loss can be larger.
Entry 5,000.00, stop 4,990.00, ES tick 0.25.
→ d = 10.00 points = 40 ticks = 0.20% of the entry.
Used byTE Position Size and Risk (TradingView) · Position size calculator
See alsoPosition size · R (one unit of risk)
Risk budget
Also written: risk per trade
- What it reads
- The most money you decide to lose on one trade if the stop is hit, costs included.
- How it is computed
- Typed as a fixed amount, or as a percent of account: budget = account × percent ÷ 100.
- Why that information matters
- It is the number a position size is divided out of, so it fixes how many units any stop distance allows.
- What it does not tell you
- It is your rule, not a measurement of the trade. Nothing here says what the right budget is for you.
Account $25,000, risk 1% per trade.
→ Budget = 25,000 × 1 ÷ 100 = $250 per trade.
Used byTE Position Size and Risk (TradingView) · Position size calculator
See alsoPosition size · Daily loss limit
R (one unit of risk)
Also written: R · 1R
- What it reads
- The planned loss on a trade, used as the unit every other distance and result is counted in.
- How it is computed
- 1R = |entry − stop| × point value × units + costs. A favourable move of twice the stop distance is +2R.
- Why that information matters
- Counting in R makes trades of different sizes and markets comparable, and turns a daily limit into a count.
- What it does not tell you
- R is a unit, not a result: a target 3R away says nothing about whether it is reached.
Entry 5,000.00, stop 4,992.00 (8 points), 2 MES at $5 a point, no costs.
→ 1R = 8 × 5 × 2 = $80. A target 24 points away is 3R.
Used byAPOLLO ONE · TE Position Size and Risk (TradingView)
See alsoReward-to-risk (R:R) · Stop distance
Reward-to-risk (R:R)
Also written: R:R · reward multiple · R-multiple · reward-to-risk ratio
- What it reads
- How far the target sits from the entry, in multiples of the stop distance.
- How it is computed
- Gross R:R = |target − entry| ÷ |entry − stop|. Net R:R also charges round-turn costs on the way in and out.
- Why that information matters
- It sets the break-even win rate a plan needs, so it is half the arithmetic of any trade plan.
- What it does not tell you
- A further target is also reached less often, so R:R and the chance of reaching it are not independent choices.
Entry 5,000.00, stop 4,990.00, target 5,025.00.
→ 25 ÷ 10 = 2.5 : 1 before costs.
Used byTE Position Size and Risk (TradingView) · Break-even win rate table
See alsoBreak-even win rate · R (one unit of risk)
Break-even win rate
- What it reads
- The share of trades a plan must win just to come out flat at a given reward-to-risk, before costs.
- How it is computed
- p = 1 ÷ (1 + R), where R is the average win divided by the average loss.
- Why that information matters
- It turns a reward-to-risk into the bar a method would have to clear: arithmetic, not a claim about any method.
- What it does not tell you
- It does not say whether any method reaches that share, and costs raise every number it gives.
R = 2: win $2 for each $1 lost.
→ 1 ÷ (1 + 2) = 33.3%: one win in three is flat.
Used byBreak-even win rate table
See alsoReward-to-risk (R:R)
Position size
Also written: contract count · quantity
- What it reads
- How many contracts, shares or coins a risk budget allows for a given stop.
- How it is computed
- size = floor(budget ÷ (stop distance × point value + costs per unit)), rounded down to the instrument’s step.
- Why that information matters
- Rounding down keeps the planned risk at or under the budget. Rounding up would go over the number you set.
- What it does not tell you
- It sizes a plan. It does not say whether the stop is well placed or the trade worth taking.
$200 budget. MES stop 10.00 points at $5 a point. $1.50 costs per contract.
→ 200 ÷ 51.50 = 3.88, rounded down to 3 contracts: $154.50 at risk.
Used byTE Position Size and Risk (TradingView) · Position size calculator
See alsoRisk budget · Stop distance · Round-turn cost
Round-turn cost
Also written: round turn · commission · slippage · costs per round turn
- What it reads
- What one unit costs to get in and out of beyond the price move: commission, fees and slippage.
- How it is computed
- Commission and fees on the entry and the exit, plus slippage: the gap between the planned price and the filled one.
- Why that information matters
- A stopped trade loses its costs too, so a size that ignores them is over budget before the trade starts.
- What it does not tell you
- Slippage is an estimate you type. Fast markets and gaps can make the real figure larger.
MES: $0.62 commission each way plus a $0.25 slippage allowance.
→ 0.62 × 2 + 0.25 = $1.49 per contract, round turn.
Used byPosition size calculator · TE Position Size and Risk (TradingView)
See alsoPosition size · Tick value
Daily loss limit
Also written: daily limit · max daily loss
- What it reads
- The most you allow yourself to lose in one trading day before you stop taking new trades.
- How it is computed
- Losses are summed from the day’s start. At the limit, no new size. APOLLO ONE counts it in R and its card reads STAND DOWN.
- Why that information matters
- It caps the one day that can undo a week, and decides how many full-size attempts a day can hold.
- What it does not tell you
- It is a rule you set, not a forecast. A gap through a stop can still carry a day past it.
Limit 2.5R with 1R = $200. Two stops today (−2R).
→ $100 of room left: a third full 1R trade would breach it.
Used byAPOLLO ONE
See alsoSTAND DOWN · R (one unit of risk) · Drawdown
Drawdown
Also written: max drawdown · maximum drawdown
- What it reads
- How far an account has fallen from its highest balance, in money or percent.
- How it is computed
- drawdown = peak balance − current balance. Maximum drawdown is the largest such fall over the period.
- Why that information matters
- It measures the stretch a trader has to sit through, which a final balance alone hides.
- What it does not tell you
- A past drawdown describes one path. It is not the most an account can fall in future.
Balance runs 50,000, then 52,400, then 50,900.
→ Drawdown = 52,400 − 50,900 = $1,500, 2.9% of the peak.
See alsoTrailing drawdown · Daily loss limit
Trailing drawdown
Also written: trailing max drawdown · trailing threshold
- What it reads
- A loss limit that moves up as the balance makes new highs, so the floor follows the peak.
- How it is computed
- floor = highest balance reached − allowance. Some rules trail closed balance, some intraday, many stop trailing at a set level.
- Why that information matters
- A gain lifts the floor too, so the room left can be under the starting allowance even after gains.
- What it does not tell you
- Rules differ by firm and change often. This is the general mechanism, not any firm’s current rule.
Allowance $2,000 from a $50,000 start (floor 48,000). The balance peaks at 51,200.
→ Floor rises to 49,200. At a 50,300 balance the room left is $1,100.
See alsoDrawdown · Daily loss limit
Contracts and calendars
The futures words our contract pages and the roll calendar print.
Micro contract
Also written: micro · micros · micro futures
- What it reads
- A smaller version of a futures contract on the same market, usually one tenth of the size.
- How it is computed
- Same tick in price at a fraction of the point value: MES is $5 a point against $50 on ES. MNQ $2 against $20 on NQ.
- Why that information matters
- The same stop fits a smaller budget, so a plan that does not fit one full contract can fit a few micros.
- What it does not tell you
- A micro changes the money at stake, not the market: price moves the same number of points on both.
A 20-point stop with a $300 budget, no costs.
→ ES: 20 × $50 = $1,000, does not fit. MES: 20 × $5 = $100, 3 fit.
Used byFutures contract reference · Position size calculator · APOLLO ONE
See alsoPoint value (multiplier) · Position size
Contract month
Also written: month code · contract code
- What it reads
- Which expiry a futures contract is: the letter code and year inside a symbol such as NQH2027.
- How it is computed
- Quarterly index futures use H for March, M for June, U for September and Z for December. Other markets list more months.
- Why that information matters
- Two months of the same market trade at different prices, so a level only means something against the month it came from.
- What it does not tell you
- The code names the expiry. It does not say which month is the most traded right now.
NQH2027.
→ E-mini Nasdaq-100, the March (H) 2027 contract.
Used byFutures roll calendar
See alsoRoll date · Last trade date
Roll date
Also written: roll · rollover · futures roll
- What it reads
- The day trading customarily moves from the expiring contract month to the next one.
- How it is computed
- For CME equity index futures, CME’s customary roll date is the Monday before the third Friday of the expiry month.
- Why that information matters
- Volume moves months around it, so a chart or level built on the old month stops describing the one being traded.
- What it does not tell you
- It is a convention: you can roll whenever you choose, and other markets follow other rules.
ES December 2026: the third Friday is December 18.
→ Customary roll date: Monday, December 14, 2026.
Used byFutures roll calendar
See alsoLast trade date · Continuous contract
Last trade date
Also written: expiration · expiry · last trading day
- What it reads
- The final day a futures contract month can trade before it expires and settles.
- How it is computed
- Each exchange rule sets it: for CME equity index futures the third Friday of the contract month, trading ending 09:30 ET.
- Why that information matters
- A position still open in that month is settled by the exchange, so the date marks when the month stops being tradable.
- What it does not tell you
- A rule can land on a holiday and be moved, so check the exchange’s own calendar.
ES December 2026 contract.
→ Last trade Friday, December 18, 2026, at 09:30 ET.
Used byFutures roll calendar
See alsoRoll date · Contract month
Continuous contract
Also written: continuous chart · front-month chart
- What it reads
- A chart symbol that strings successive contract months together into one long history.
- How it is computed
- The platform switches to the next month at a roll. A back-adjusted version also shifts past prices by the gap between months.
- Why that information matters
- Levels drawn on a continuous chart can sit at prices the contract you trade never printed, especially across a roll.
- What it does not tell you
- It is a charting construction: no exchange trades a continuous contract.
The old month ends at 5,020.00 while the new month trades 5,060.00 at the roll.
→ A back-adjusted chart moves every earlier price up 40.00 points.
Used byFutures roll calendar
See alsoRoll date · Contract month
APOLLO ONE states
The words on APOLLO ONE’s card, from the build on our charts. APOLLO ONE plans ES, NQ, GC and SI, minis or micros, on TradingView.
APPROACHING
- What it reads
- Price is near a level APOLLO ONE has graded, and no setup is forming there yet.
- How it is computed
- Printed when the last close sits above an eligible support no more than 1 × the 15-minute ATR away. The card names the level.
- Why that information matters
- It names the level in play before anything has happened there, so attention goes to it first.
- What it does not tell you
- It is a distance, not a forecast: being near a level says nothing about whether a setup forms there.
Graded support 5,000.00. 15-minute ATR 9.50. Last close 5,007.25.
→ 7.25 ≤ 9.50: APPROACHING, “support 5,000.00 within 1 ATR”.
Used byAPOLLO ONE
See alsoFlush · ATR (average true range)
Flush
Also written: PENDING · FLUSH
- What it reads
- Price has traded through a graded support and below it, with no close back above yet.
- How it is computed
- Depth = level − the low after the break, measured in ATR. A flush too shallow or too deep does not count.
- Why that information matters
- It is the first stage the card tracks: until a close returns above the level it reads PENDING · FLUSH, with no READY figure.
- What it does not tell you
- A flush is an event below a level. It says nothing about whether price comes back above it.
Level 5,000.00, ATR 10.00. Low 4,991.50, last close 4,995.00.
→ Depth 8.50 = 0.85 ATR, no close above yet: PENDING · FLUSH.
Used byAPOLLO ONE
% READY
Also written: PENDING · % READY · READY percentage
- What it reads
- The card’s READY figure: how much of the confirmation checklist is met, not a win probability.
- How it is computed
- Each condition met adds its share: the reclaim, the required hold, the zone cleared, within reach, a level 3R above, price above the level.
- Why that information matters
- The card names the condition still missing, so a 72% setup is visibly not a confirmed one.
- What it does not tell you
- It counts conditions met. It is not a grade or an estimate that the setup will work.
Reclaimed. Hold 2 of 3 minutes. Zone not cleared. Within reach. A level 3R above. Price above the level.
→ 4 of 6 conditions met and the hold 2 of 3: PENDING with READY under 100, naming what is still owed.
Used byAPOLLO ONE
See alsoAcceptance · PENDING · No level 3R above
CONFIRMED · ARMED
Also written: ARMED
- What it reads
- Every check has passed and the plan is on the chart: entry, stop, targets and size, waiting for a fill.
- How it is computed
- Printed once the hold, reach, 3R room and every card block clear. An unfilled plan ends after 750 trading minutes.
- Why that information matters
- It is the one state with a whole plan on the chart. Every word before it is a setup still being checked.
- What it does not tell you
- Armed is a plan, not a result: it says nothing about whether the entry fills or what follows.
Entry 5,001.00, stop 4,993.00 (8.00 points). Risk 2.5% of $10,000 = $250. MES at $5 a point.
→ 8 × 5 = $40 per micro: 6 MES, $240 at risk.
Used byAPOLLO ONE
See alsoTargets (T1, T2, T3) · Position size · ACTIONABLE
No chase
Also written: price ran past reach: no chase · past reach
- What it reads
- Price has already moved too far from the planned entry for the plan to be taken as drawn.
- How it is computed
- Refused once price has reached T1, has covered too much of the way to it, or sits over 1.00 × the 15-minute ATR past the entry (your setting).
- Why that information matters
- The entry is never walked up to catch the move, so the stop and targets stay where structure put them.
- What it does not tell you
- It refuses this plan at this moment. It says nothing about where price goes next.
Entry 5,000.00. 15-minute ATR 9.00. Last price 5,010.50.
→ 10.50 past the entry > 9.00: no chase.
Used byAPOLLO ONE
See alsoTargets (T1, T2, T3) · BLOCKED
Not tradable for this account
Also written: not tradable for this account
- What it reads
- The stop this setup needs costs more than your risk per trade allows, even at one micro contract.
- How it is computed
- One micro risks the stop distance × the micro’s point value. Above your risk per trade, no size is shown.
- Why that information matters
- It says so instead of shrinking the stop to make the trade fit, which would move the stop off structure.
- What it does not tell you
- It is arithmetic on your setting, not a judgement of the setup.
GC stop 26.00 points. MGC $10 a point. Risk per trade $200.
→ 1 MGC risks $260 > $200: not tradable for this account.
Used byAPOLLO ONE
See alsoMicro contract · Risk budget
15m trend against
Also written: 15m trend against · 15-minute trend against · SuperTrend
- What it reads
- The 15-minute trend reads down while the setup is for a move up, so the plan is held back.
- How it is computed
- A 15m SuperTrend: bands at (high + low) ÷ 2 ± 3 × Wilder ATR(10), ratcheted, flipping only on a close through the active band.
- Why that information matters
- Against the 15-minute trend a setup arms only at a major level, and one grade lower. Elsewhere the card waits.
- What it does not tell you
- A trend reading describes bars already closed. It does not say the trend continues.
A 15m bar with high 5,012.00, low 5,004.00. ATR(10) 6.00.
→ Midpoint 5,008.00 ± 18.00: bands at 4,990.00 and 5,026.00.
Used byAPOLLO ONE
See alsoMajor level · ATR (average true range)
Major level
Also written: not at a major level
- What it reads
- A level with the most structure behind it, by APOLLO ONE’s own definition.
- How it is computed
- Close to the rolling profile’s POC or a level it scores major, the prior value area, or a 4h, daily or weekly swing, within an allowance scaled to the ATR.
- Why that information matters
- With Arm at major levels only on (off by default), a plan arms only there. Elsewhere the card says not at a major level.
- What it does not tell you
- Major describes the structure behind a level, not whether it holds.
Arm level 4,996.50. Prior VAL 4,995.00. Allowance 2.00 points.
→ Distance 1.50 ≤ 2.00: at a major level.
Used byAPOLLO ONE
See alsoValue area (VAH, VAL) · Point of control (POC) · 15m trend against
Off-peak window
Also written: off-peak window: no new setups · off-peak hours
- What it reads
- Hours you mark as off-peak, when new setups are held back. 18:00 to 07:00 New York time by default.
- How it is computed
- A minute is off-peak when its opening time is at or after the start and before the end. A window can span midnight.
- Why that information matters
- It keeps new plans out of the hours you mark, or limits them to major levels, by your setting.
- What it does not tell you
- It is a clock rule you set, not a liquidity measurement. Its effect on outcomes has not been measured.
Window 18:00 to 07:00 ET. A setup would arm at 02:14 ET.
→ At 02:14 the card reads “off-peak window: no new setups” and draws no plan.
Used byAPOLLO ONE
See alsoMajor level · Exchange session
After stop: wait 15m close
Also written: after stop: wait 15m close
- What it reads
- A plan on this chart has just ended, so no new plan arms until this 15-minute bar closes.
- How it is computed
- After a plan ends at its stop or its last exit, arming is held to the end of the 15-minute bar containing that exit.
- Why that information matters
- A fresh plan cannot arm in the same few minutes the last one ended in.
- What it does not tell you
- It is a waiting rule on this chart, not a limit on your account.
A plan stopped at 10:07 ET.
→ No new plan on this chart before 10:15 ET.
Used byAPOLLO ONE
See alsoSTOPPED · STAND DOWN
No level 3R above
Also written: no level 3R above · 3R room · room to 3R
- What it reads
- No graded level sits at least three stop distances above the entry, so the plan has no room.
- How it is computed
- Risk = entry − stop. The plan needs a graded level at or beyond entry + 3 × risk, and without one it does not arm.
- Why that information matters
- Targets come from structure, so a setup with no structure far enough above has nothing to plan toward.
- What it does not tell you
- It reads the levels on the map now. It is not a forecast of how far price can travel.
Entry 5,000.00, stop 4,992.00 (1R = 8.00). Levels above at 5,012.00 and 5,019.50.
→ 3R = 5,024.00 and nothing reaches it: “no level 3R above”.
Used byAPOLLO ONE
See alsoTargets (T1, T2, T3) · R (one unit of risk)
Quality bar
Also written: below quality bar: watch
- What it reads
- The setup’s structure score is under the bar this chart’s recent setups have set, so it is shown to watch only.
- How it is computed
- A structure score from flush depth, a major level, T1 distance and a held reclaim, compared with a bar set by this chart’s own recent setups.
- Why that information matters
- It trades fewer plans for setups whose structure ranks higher among this chart’s own recent ones.
- What it does not tell you
- The score ranks structure, not outcome. It is not a probability.
This setup scores 3.1. The bar from this chart’s recent setups reads 3.6.
→ 3.1 < 3.6: “below quality bar: watch”.
Used byAPOLLO ONE
See alsoFlush · Major level · Targets (T1, T2, T3)
Armed here already
Also written: armed here already: watch
- What it reads
- A plan has already armed at this level in this session, so the level does not arm a second one.
- How it is computed
- Each armed level is recorded for the session. A new setup at a recorded level is shown as watch only.
- Why that information matters
- It keeps one level from producing a string of plans after the first one has played out.
- What it does not tell you
- It is a once-per-session rule for the level. It says nothing about the level holding this time.
Level 5,000.00 armed at 09:48 ET and stopped. Price reclaims 5,000.00 again at 11:20 ET.
→ The card reads “armed here already: watch”. No second plan at 5,000.00 today.
Used byAPOLLO ONE
See alsoAfter stop: wait 15m close · CONFIRMED · ARMED
Waiting for price back above
Also written: waiting for price back above
- What it reads
- The confirmation checks are met, but the last close is not above both the level and the stop.
- How it is computed
- Holds while the last close is at or below the stop, or under the level. It clears on a close back at or above the level.
- Why that information matters
- A plan never arms with price already under its own line, so the card waits for price back where the plan starts.
- What it does not tell you
- It is a waiting condition. It does not say price will come back above the level.
Level 5,000.00, stop 4,992.00. Last close 4,998.25.
→ Under 5,000.00: “waiting for price back above 5,000.00”.
Used byAPOLLO ONE
See alsoReclaim · Acceptance
Plan words
The shared state words for a setup, its constraints and a live position.
OBSERVING
- What it reads
- The tool is reading the market and nothing is setting up.
- How it is computed
- The resting state, printed whenever no setup condition has started, so the absence of a setup is said out loud.
- Why that information matters
- A quiet card that says OBSERVING differs from a broken one that says nothing: you know the tool is working.
- What it does not tell you
- Nothing happening now says nothing about what happens next.
Nearest graded level 14.25 points away. 15-minute ATR 9.50.
→ 14.25 > 9.50 and no setup started: OBSERVING.
See alsoDEVELOPING
DEVELOPING
- What it reads
- A setup has started to form, and its first condition is not complete yet.
- How it is computed
- Entered when a setup’s first condition starts, such as price trading through its level, and left at the next stage or when it lapses.
- Why that information matters
- It points attention at one place before there is anything to act on.
- What it does not tell you
- DEVELOPING is not a plan and carries no claim that the setup will complete.
Level 5,000.00. Price trades 4,998.75 at 10:02 ET.
→ At 10:02 the first condition starts: DEVELOPING.
PENDING
- What it reads
- A setup is waiting on named conditions before it can become a plan.
- How it is computed
- Every condition of the setup is listed. PENDING holds while at least one is unmet, and the card names the missing one.
- Why that information matters
- Naming what is missing turns not yet into something you can check for yourself on the chart.
- What it does not tell you
- Waiting conditions can stay unmet. PENDING does not say they will be met.
Six checks, five met. The one-minute hold reads 2 of 3 minutes.
→ PENDING, missing “hold above 5,000.00 (2/3 min)”.
Used byAPOLLO ONE
QUALIFIED
- What it reads
- Every condition of the setup itself is met, before the final checks on reach, room and size.
- How it is computed
- The setup’s own checklist is complete. The plan must still pass the constraints to become ACTIONABLE.
- Why that information matters
- It separates the pattern being there from the plan being takeable, which are two different questions.
- What it does not tell you
- A qualified setup can still be blocked by a constraint, and qualifying is not an outcome.
Hold 3 of 3 minutes, zone cleared. Price already 0.7 of the way to T1.
→ QUALIFIED, then BLOCKED: 0.7 is over the 0.5 reach limit.
See alsoACTIONABLE · BLOCKED
ACTIONABLE
- What it reads
- The plan is complete and every constraint passes: entry, stop, targets and size are all defined.
- How it is computed
- QUALIFIED plus no blocker: within reach, room to target, a size that fits the budget, inside the hours allowed.
- Why that information matters
- It is the one state where a whole plan exists to be judged. Every other word describes something not ready.
- What it does not tell you
- It is a definition, not advice: taking it is your call, and it says nothing about the result.
Entry 5,001.00, stop 4,993.00, T1 5,017.00. 6 micros fit a $250 budget.
→ Every check passes: ACTIONABLE, with T1 at 2.0R.
See alsoQUALIFIED · CONFIRMED · ARMED
BLOCKED
- What it reads
- A setup met its own conditions, but a named constraint stops it becoming a plan.
- How it is computed
- Constraints are checked in a fixed order and the first one that fails is named: reach, room, size, the hours, the trend.
- Why that information matters
- A block with its reason says exactly what would have to change, instead of a setup silently vanishing.
- What it does not tell you
- A block is a rule firing, not a judgement that the setup would have failed.
Qualified setup. One micro would risk $260 against a $200 budget.
→ $260 > $200: BLOCKED, not tradable for this account.
See alsoNot tradable for this account · No chase · QUALIFIED
STAND DOWN
Also written: STAND DOWN · daily limit (your setting)
- What it reads
- The day’s loss limit has been reached, so no new size is shown for the rest of the day.
- How it is computed
- APOLLO ONE adds this chart’s stopped plans today to the losses you enter, in R. At your daily limit the card reads STAND DOWN.
- Why that information matters
- Your own rule is held for you on the chart, at the moment it is easiest to break.
- What it does not tell you
- It counts this chart and the losses you type, not your whole account.
Daily limit 2.5R. Two stopped plans (2R) plus one loss entered by hand (1R).
→ 3R ≥ 2.5R: STAND DOWN · daily limit (your setting).
Used byAPOLLO ONE
See alsoDaily loss limit · R (one unit of risk)
EXPIRED
- What it reads
- Something that was live no longer is: a session ended, a level stayed broken too long, or a plan ran out of time.
- How it is computed
- Each tool states its clock: session end, N bars broken with no reclaim (your setting), or a plan time limit.
- Why that information matters
- An expired object is history, so it stops competing for attention with what is still live.
- What it does not tell you
- Expiry is timekeeping. It says nothing about whether the level or plan would have worked.
Retire after 30 bars. A prior-day low stays broken below for 30 closed bars with no reclaim.
→ On the 30th bar: EXPIRED.
Used byTE Session Boundaries, Opening Range and Initial Balance (TradingView) · TE Previous Session Structure (TradingView)
See alsoINVALIDATED · BROKEN BELOW
INVALIDATED
- What it reads
- The condition a setup or plan depended on has gone, so it is withdrawn.
- How it is computed
- Triggered by the plan’s own rule: a close back under its level, or an entry that never traded before the plan’s time ran out.
- Why that information matters
- It tells you the old plan no longer describes the chart, so its lines stop being references.
- What it does not tell you
- Invalidation is about the plan, not the market: price can still go anywhere afterwards.
A plan armed at entry 5,001.00. The entry does not trade within 750 trading minutes.
→ After 750 minutes with no fill: INVALIDATED.
Used byAPOLLO ONE
See alsoEXPIRED · CONFIRMED · ARMED
ENTERED
- What it reads
- The plan’s entry price has traded, so the plan is now a position being managed.
- How it is computed
- Printed on the first bar after the plan armed whose high-low range contains the entry price.
- Why that information matters
- From here the stop and targets are live references, not a plan on paper.
- What it does not tell you
- A fill at the entry starts a trade. It says nothing about how it ends.
Buy entry 5,001.00. A bar trades from 4,999.50 to 5,004.25.
→ The range contains 5,001.00: ENTERED.
See alsoTargets (T1, T2, T3) · STOPPED
Targets (T1, T2, T3)
Also written: T1 · T2 · T3 · target
- What it reads
- The prices a plan takes size off at, nearest first.
- How it is computed
- Taken from graded levels above the entry, nearest first, each rounded to the tick and stated in R from the entry.
- Why that information matters
- Targets at structure tie each exit to a price the market has already marked, not to a fixed multiple.
- What it does not tell you
- A target is a line on a plan. It does not say price will reach it.
Entry 5,000.00, stop 4,992.00 (1R = 8.00). Graded levels at 5,016.00 and 5,026.50.
→ T1 5,016.00 = 2.0R. T2 5,026.50 = 3.3R.
Used byAPOLLO ONE
See alsoT1 HIT · R (one unit of risk) · No level 3R above
T1 HIT
- What it reads
- Price has reached the first target of a live position.
- How it is computed
- Printed on the first bar after the entry whose high reaches T1, for a plan to buy.
- Why that information matters
- It is where a plan’s management changes by its own rules: size comes off and the stop can move.
- What it does not tell you
- Reaching T1 says nothing about whether T2 is reached.
Entry 5,000.00, T1 5,016.00. A bar trades up to 5,016.25.
→ T1 HIT on that bar.
See alsoT2 HIT · Targets (T1, T2, T3)
T2 HIT
- What it reads
- Price has reached the second target of a live position.
- How it is computed
- Printed on the first bar after T1 whose high reaches T2.
- Why that information matters
- It marks the plan’s second exit and what is left on as the runner.
- What it does not tell you
- It records a price that traded, not a statement about the rest of the trade.
T2 5,026.50. A later bar trades 5,027.00.
→ T2 HIT. What remains is the runner.
RUNNER
- What it reads
- The last part of a position left on after the earlier targets, managed toward the final one.
- How it is computed
- The size remaining after the T1 and T2 exits. Its stop follows the plan’s rules, and it ends at T3 or at that stop.
- Why that information matters
- It separates the part of a trade still exposed from the part already closed.
- What it does not tell you
- A runner is a size, not a promise of a further move.
10 micros. The plan takes 6 off at T1 and 3 at T2.
→ 10 − 6 − 3 = 1 micro is the runner.
CLOSED
- What it reads
- A position has been fully exited.
- How it is computed
- Printed when the remaining size reaches zero, whichever exit made it so.
- Why that information matters
- It marks the end of a position, so nothing on the chart is still exposed from that plan.
- What it does not tell you
- Closed says the position ended. On its own it does not say how.
10 micros entered. 6 out at T1, 3 at T2, 1 at the runner’s stop.
→ 6 + 3 + 1 = 10: CLOSED.
STOPPED
- What it reads
- The plan’s stop price traded and the remaining position exited there.
- How it is computed
- Printed on the first bar whose low reaches the active stop, for a plan to buy. A fill can be worse than the stop price.
- Why that information matters
- It records the planned loss happening, which is what a daily loss limit counts.
- What it does not tell you
- A stop is a line on a plan. A gap can fill it at a worse price than the one written.
Stop 4,992.00 at 1R. A bar trades down to 4,991.75.
→ STOPPED: −1R on the remaining size, before slippage.
See alsoDaily loss limit · STAND DOWN
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