This indicator looks for the Price Action Inside bar patterns and sets a signal pointer on the current bar and the levels for pending orders with the prices of the determining bar.
An Inside Bar is a bar, the range of which is within the range of the previous bar. In other words, it is a bar whose High is below the maximum of the previous bar, and Low is above the minimum of the previous bar.
The bar that precedes the onside bar is called "determining" or "measuring".
As a setup for trade you should considered the "determining" bar together with the inside bar as a single pattern. This is a two-side pattern. It can be used as a reverse pattern.
The indicator has three external parameters:
- DrawGraphic - draw graphical objects.
- Color of Long setup - the color for the long objects.
- Color of Short setup - the color for short objects.