R Inside Bar
- Indicators
- Version: 1.0
- Activations: 5
The R Inside Bar indicator for Metatrader 4 provides simple to use price breakout levels based on inside bars.
It works on pure price action and does not repaint whatsoever, and pops up in the main MT4 chart window in the form of 2 colored horizontal lines above and below the actual inside bar.
The green horizontal line acts as resistance and the red line acts as support.
Long & short trade idea
- Open a buy order if the candlestick closes above the green inside bar line and the overall trend is upwards.
- Open a sell order if the candlestick closes below the red inside bar line and the overall trend is downwards.
The R Inside Bar indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Tip
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the R Inside Bar indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Specifications & Inputs
Trading Platform: Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for (1-M, 5-M, 15-M, 30-M, 1-H)
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Price action
