The indicator reflects the signals of the strategy “Internal day and breakout game”, described in the book by Kathy Lin “Day Trading in the Forex market. Profit-making strategies.
When an internal bar appears, the indicator builds a range based on its maximum and minimum using horizontal lines. When the level is broken, a signal is generated to open a position.
The indicator has only one input parameter-Inner bars. It determines the minimum number of internal bars that must be formed before the range is broken.