I agree with fxwinner22. Having an edge means the odds are in your favor. If there has been 3 green bars in a row 50 times, and 4 green in a row 1 time over, say, 1 week then the odds are not 50/50 when it comes to determining the 4th bar.
If you had those stats would you go LONG on the 4th bar? No. Why? Because you can see over the last week there has only been ONE occurance of 4 green in a row. If it was 50/50 then you might as well get a coin and flip it for every hour, heads for long tails for short. If it was 50/50 then every single strategy and method out there would work only out of luck, right?