Live QMLtestrunner with 'inotifywait' on Bash script

runner.sh

#!/bin/bash

BLD="$(tput bold)"
GRN="$(tput setab 2)"
RED="$(tput setab 1)"
BLK="$(tput sgr0)"

function test {
    clear
    cd ./test
    qmltestrunner  |  
       sed "s/^FAIL! /${RED}${BLD}FAIL! ${BLK}/g"  |
       sed "s/^PASS /${GRN}${BLD}PASS  ${BLK}/g"
    cd ..
} 

test
while inotifywait -e modify -e create -e delete $1 ; do
    test
done