Narrow Range 4 and 7 28 Pairs on all timeframes
- Индикаторы
- Версия: 1.1
- Обновлено: 24 марта 2020
- Активации: 5
This indicator detects Inside Bar Narrow Range 4 and Inside Bar Narrow Range 7 two powerful patterns on 28 pairs on all timeframes.
"Inside Bar Narrow Range 4" is an inside bar with the narrowest range out of the last 4 bars so "Inside Bar Narrow Range 7" an inside bar with the narrowest range out of the last 7 bars.
Hence, IBNR4 and better IBNR7 are an objective criterion for identifying decreased range and volatility.
Once we find an IBNR4 or an IBNR7 pattern, we aim to trade the breakout as volatility resumes.
Just put the indicator on a single chart to see IBNR4 and IBNR7 patterns that appear on all pairs in all timeframes
Rules for long
- An inside bar with the smallest range out of the last 4 or 7 bars.
- Place buy stop order above the high of the bar.
- Wait for a breakout to trigger order.
Rules for short
- An inside bar with the smallest range out of the last 4 or 7 bars.
- Place sell stop order below the low of the bar.
- Wait for a breakout to trigger order.
Parameters settings
- Pairs_Suffix: Pairs suffix as "micro" or "-ECN" etc
Good. Ability to choose timeframes and alert notifications would be great addition .