The indicator looks for the Price Action patternInside Bar) and puts a signal pointer on the current bar and the levels for pending orders at the prices of the determining bar.
An internal bar is a bar whose range does not exceed the range of the previous bar. In other words, it is a bar whose maximum is lower than the maximum of the previous bar, and the minimum is higher than the minimum of the previous bar.
The bar preceding the inner one is called “defining” or “measuring”.
As a setup for trading, the “defining” bar is considered together with the internal one as a single pattern. The pattern is two-sided. It can serve as a U-turn.
The indicator has six external parameters:
- Draws patterns – whether to output graphic objects (whether to label the pattern with a rectangle).
- The color of pattern up – the color for long objects.
- The color of pattern down – color for short objects.
- Frame or Fill pattern-draw a pattern with a frame or fill
- Width of the frame pattern – the thickness of the lines of the rectangle of the pattern, when selecting Frame in the Frame or Fill pattern setting
- Style frame line – the style of the pattern frame line when Width of the frame pattern = 1. If the thickness is greater than 1, then the line is solid