Inside Outside Bar Indicator for MT5 Download – Free – [TradingFinder]

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

In this tool, a candle is considered an Inside Bar if it is fully contained within the range of the previous candle. Conversely, if the newly formed candle creates a higher high or a lower low compared to the previous candle, it is identified as an Outside Bar.

It is worth noting that the indicator highlights Inside Bars in blue and Outside Bars in red.

Table of Specifications – Inside Outside Bar Indicator

The table below presents the specifications of the Inside Outside Bar Indicator.

Inside Outside Bar Indicator at a Glance

The main application of the Inside Outside Bar Indicator is to identify market direction and highlight key support and resistance zones.

Generally, during bullish or bearish trends, Inside Bars are considered signals of temporary pauses and energy accumulation. At the same time, Outside Bars indicate stronger price momentum and a continuation of the prevailing trend.

Bullish Trend Conditions

According to the 1-hour chart of EUR/USD, an Outside Bar has formed in the support zone, signaling the start of a bullish move. Subsequently, the appearance of Inside Bars confirms the continuity and validity of the uptrend.

Bearish Trend Conditions

According to the 30-minute chart of EUR/CHF, an Outside Bar has appeared, indicating increased selling pressure and the start of a bearish trend. Later, the formation of Inside Bars signals a brief pause and accumulation of energy within the downtrend, confirming the continuation of the price decline.

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 is a practical tool in technical analysis, designed based on Price Action concepts.

This tool displays Inside and outside candles in color directly on the chart. The formation of these candles near key support and resistance zones can signal both reversals and trend continuations.