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The Inside Bars indicator displays the internal bars, the breakdown zone and the breakouts themselves. The inner bars are an important pattern of price action. The price action of the inner bar is completely overlapped by the price action of the previous bar.
Internal bars are most often used on higher timeframes.
The default settings of the Inside Bars indicator are quite effective most of the time. You can customize them based on your needs.
- ATR factor to skip large candles – very large candles need to be filtered, as they often overlap other candles. The ATR factor filters such large candles. With a higher value of the factor, fewer candles are filtered, with a lower value of the factor, more candles are filtered. Try to experiment.
- Breakout distance in pips – the distance in pips from the high and low of the previous bar for the breakout zone.
- ‘Override’ or’ Cancel ‘active Breakout Zone-the value “Override” removes the existing breakout zone and forms a new one when new internal bars are found. The value “Cancel” does the opposite.
- Use MA Trend filter-set the value to true to filter breakouts according to the direction of the trend of a simple MA.
- Fast MA period – the fast MA period for the trend filter.
- Slow MA period – the period of the slow MA for the trend filter.
- Color Palette-select a color palette for a dark or light background.
- Colo (u)rs-color setting.
- Show Alerts – if true, alerts are executed.
- Show Screen Alerts – if true, alerts are displayed on the screen.
- Email Alerts – if true, alerts are sent by email.
- Push Alert Notifications – if true, alerts are sent as push notifications.
Inside Bars does not require a lot of computing power.
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