Inside Outside Bar Indicator Download for MT4 – Free | Forex Indicator Download – MetaTrader 4 Resource

The Inside Outside Bar indicator automatically detects and highlights inside and outside bars.

In this trading instrument, a smaller candle is recognized as a contained bar whenever it is completely contained within the range of the previous candle.

Conversely, if the new candle forms a higher high or a lower low compared to the previous candle, it is considered an outside bar.

It should be noted that the inner bars are highlighted in blue and the outer bars are highlighted in red.

Inner and outer column indicator specifications table

The specifications of the inner and outer bar indicators are as follows.

List of internal and external column indicators

The main application of the Inside Outside Bar indicator is to determine trend direction and identify support and resistance levels .

Specifically, in a bullish or bearish trend, inside bars indicate consolidation and pauses, while outside bars indicate stronger momentum and continuation of the trend.

bullish trend conditions

According to the NZD/USD chart, support areas have formed outside bars, marking the beginning of an uptrend. Subsequently, the formation of the inside bar confirms the continuation of the bullish trend.

Bearish trend conditions

According to the Cardano (ADA) 1-hour chart of the cryptocurrency , after the formation of the highest peak, outside bars appeared, marking the beginning of selling pressure and a bearish trend.

In this case, the formation of inside bars indicates consolidation and a pause in the decline, confirming the continuation of the bearish momentum.

Settings of internal and external bar indicators

The settings for the internal and external bar indicators are as follows:

• Show_Alert: Alert display
• Display_Out: Outdoor candle display
• Display_In: Internal candle display

Conclusion

Inside Outside Bar indicator, based on price action concepts , visually highlights inside and outside candles.

Traders can use this tool along with these patterns in support and resistance areas to identify price reversals and potential entry points.