By Stoic TraderUpdated
How to read Green, Red, and Yellow on Compass
Read the latest color after the bar closes, then check whether your own setup and risk plan support a trade.
Read Green, Red, or Yellow after the current TradingView bar closes. Green favors long setups, Red favors short setups, and Yellow means slow down. Then check the chart and wait for a setup from your own plan.
Color meanings
| Color | Meaning | You still decide |
|---|---|---|
| Green | Favor long setups | Whether a long setup in your plan is actually present, and how much risk to take. |
| Red | Favor short setups | Whether a short setup in your plan is actually present, and how much risk to take. |
| Yellow | Slow down | Whether to wait, reduce activity, or skip the chart until your setup is clear. |
When to read a new color
Do not act on a forming candle. Wait until the bar closes, read the latest color, then compare it with the market, timeframe, and setup already in your plan.
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