Find Inside Bars
The 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 that is completely contained within the range of the preceding bar. In other words, it is a bar whose high is lower than that of the preceding bar and whose low is higher than the preceding bar's low.
The bar that precedes the inside bar is called "determining" or "measuring".
As a setup for trade you should consider 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 six external parameters:
- Draws patterns - display graphical objects (mark the pattern with a rectangle).
- The color of pattern up - the color for the long objects.
- The color of pattern down - the color for short objects.
- Frame or Fill pattern - mark the pattern with a frame or a fill
- Width of the frame pattern - pattern rectangle line thickness, if Frame is selected in the Frame or Fill pattern
- Style frame line - style of the pattern frame line at Width of the frame pattern = 1. If the thickness is greater than 1, then the line is solid