Inside Outside Bar Indicator for MT4 Download – Free – [TradingFinder]

The Inside Outside Bar Indicator automatically detects and highlights Inside Bars and Outside Bars.

In this trading tool, whenever a smaller candle is wholly contained within the range of the previous candle, it is identified as an Inside Bar.

Conversely, if a new candle forms a higher high or a lower low compared to the previous candle, it is recognized as an Outside Bar.

It should be noted that Inside Bars are highlighted in blue, and Outside Bars are highlighted in red.

Table of Specifications Inside Outside Bar Indicator

The specifications of the Inside Outside Bar Indicator are as follows.

Inside Outside Bar Indicator at a Glance

The main application of the Inside Outside Bar Indicator is to determine trend direction and identify support and resistance levels.

Specifically, in bullish or bearish trends, Inside Bars indicate consolidation and pause, while Outside Bars represent stronger momentum and continuation of the trend.

Bullish Trend Conditions

Based on the NZD/USD chart, an Outside Bar has formed at the support zone, signaling the beginning of an upward trend. Subsequently, the formation of Inside Bars confirms the continuation of the bullish trend.

Bearish Trend Conditions

According to the 1-hour chart of Cardano (ADA) cryptocurrency, after the formation of the highest peak, an Outside Bar appeared, signaling selling pressure and the start of a bearish trend.

In this situation, the formation of Inside Bars indicates consolidation and a pause during the downward move, confirming the continuation of bearish momentum.

Settings of the Inside Outside Bar Indicator

The settings of the Inside Outside Bar Indicator are as follows:

• Show_Alert: Alert display
• Display_Out: Outside candles display
• Display_In: Inside candles display

Conclusion

The Inside Outside Bar Indicator, designed based on Price Action concepts, visually highlights Inside and Outside candles.

Traders can use this tool, along with these patterns in support and resistance zones, to identify price reversals and potential entry points.