> ## Documentation Index > Fetch the complete documentation index at: https://docs.calibri.io/llms.txt > Use this file to discover all available pages before exploring further. # Recurring markets and windows > Series, windows, and price-feed markets — how a market that asks the same question every five minutes works, what the price line means, and what actually settles it. Some questions don't happen once. *"Will Bitcoin close higher than it opened?"* is worth asking every five minutes, forever. On Calibri those are **recurring series**, and each round is a **window**. ## Series and windows A **series** is a feed of markets generated from one question on a fixed cadence — every five minutes, hourly, daily. Each **window** is one round of it: its own market, its own order book, its own settlement. Because a five-minute feed produces 288 markets a day, the browse page shows the whole series as **one card**, not 288 — the card is the **window open right now**, and once it closes the next one takes its place. Filtering the browse page to a series shows that same live window on its own. Open it and you get the window strip: recent windows as a row you can step back through, the live one pulsing, a countdown to close, and the windows listed ahead. Not every daily feed collapses. A tennis tour publishes a different fixture each day — those are genuinely different questions and each is listed in full. Only feeds that ask the *same* question each round collapse behind one card. ## Series vs tags Two different ways markets are grouped, and they are not interchangeable: * A **series** is where an event came from — the feed that generated it. At most one per event, and most events have none at all. * A **tag** is where an event is *shelved* — what puts it on a hub page. An event can carry several. One "Wimbledon" tag can collect the winner race and every individual match, which come from completely different places. ## Price-feed markets A recurring crypto window is a **price-feed market**: instead of plotting the market's own probability, the chart plots the **underlying asset's price** with the level to beat drawn across it. You get three views of a window: * **Odds** — the probability chart every market on the site has. This is what you are actually trading. * **Price line** — the asset's price through the window, live. * **Candles** — hours of context around the window, scrollable into the past. The live price comes from Calibri's own feed, which is republished from **the same venue the market settles against**. That is deliberate: a chart fed from one source and a settlement taken from another disagree eventually, and every disagreement is somebody watching one number and being paid on another. ## What settles a window A candle-direction window resolves on one question: **did the candle close at or above its own open?** * The **open** is fixed the moment the window starts. It is shown from the exchange's own candle, not from the first price the chart happened to see — so arriving mid-window still shows you the real level to beat. * The **close** moves until the window ends, and it is the same number the resolution source compares against. * **A tie resolves up.** `close == open` exactly is a real outcome on a quiet five-minute market, not a rounding artefact, and the rule is stated rather than left to chance. There is a short gap between a window closing *by the clock* and the final candle being confirmed. During it the displayed close is still forming. The app distinguishes the two states so you are never shown a "final" price that then moves. Once settled, the window keeps the two numbers that decided it — the deciding candle's open and close — so you can always see what happened, even months later. They are reproducible: anyone can re-request that candle and get the same values. Settlement is **final**. If the exchange later restates its data, or there was an outage or an unusual print during the window, the market stays settled on what was published at the time. See [How markets are resolved](/concepts/resolution-sources). ## Old windows still work A window that closed three months ago renders exactly like a live one — its chart, its result, and its settlement figures. Bookmarks and shared links to old windows resolve. ## Related Binary markets, prices as probabilities, settlement. The exact Coinbase data a window settles on, and why it is never revised. The on-chain escalation ladder and the deadman switch. The single taker fee. Series, tags, and the underlying-asset price endpoints. This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.