Double Inside Bars

A complete and detailed explication of the strategy and conditions to filter the signals are exposed on the video. 

* The YouTube channel creator is not related to this indicator development

Indicator

• Bars that are inside the high/low range of the previous bar, could be called inside bars. The indicator can optionally paint these bars
• Two consecutive inside bars will create a channel, that often works as support or resistance levels also

Signals

The indicator can show the signal arrows on two different modes:

• FAST: Signals will repaint until the bar close, so the trader should enter only after the signal bar has already closed, on the next bar open. This allows to expect a possible next signal before its confirmation •  SLOW: Signals wont repaint. The arrows it will appear only after the signal bar is already closed and has confirmed the channel break

Conditions:

• BUY:  when the price breaks the upper level of the channel upward
• SELL:  when the price breaks the lower level of the channel downward

Optionally, the indicator will show all the signals of the channel or just the first one to appear.

Suggested levels

• STOP-LOSS: last low when buy / last high when sell
• TAKE-PROFIT: 1:1 to 1:2  ratio

Graphics settings