One of the most popular price action stops is the inside bar strategy. Due to its ease of remembering and the specific psychology that the Inside Bar pattern creates in the market, it is always one of the first price action strategies that traders deal with. For this reason, we decided to prepare an indicator based on this popular model and present it to the trading community. But first let’s explain a little about this pattern, then you can download the inside bar indicator inside bar.
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What is Inside Bar?
The inside bar pattern is generally considered a recursive pattern, which forms when the second candle is completely covered by the first candle or is engulfed. The diagram below shows examples of the inside bar pattern inside bar. Inside bar patterns are better shown in bar charts, but can also be easily found in candlestick charts. As can be seen in the example below, after the formation of the inside bar pattern, the next candlestick will usually be very ascending or very descending.
Inside bar indicator inside bar
In the figure above, you can often see the insides as both reversible patterns and continuing patterns. From this example, it can be seen that Inside Bar should not be used and traded alone, but the market trend and price action in general should be considered. If you want, you can also read about other price action strategies .
Use the inside bar indicator inside bar
Using this indicator is very easy and convenient. It is enough to put this indicator on any stock or currency pair you want in MofidTrader (for Tehran Stock Exchange) or in MetaTrader 4 (for Forex). The indicator automatically detects price action patterns and gives you alarms and alerts to enter. As shown in the figure below, the green square indicates the insider load that has not yet been broken and the signal has not entered. The blue square is the ascending signal and the red square is the descending signal with this price action pattern.
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