Inside Outside Bar Indicator Download for MT5 – Free | Forex Indicator Download – MetaTrader 5 Resources

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

In this tool, a candle is considered a contained bar if it is completely contained within the range of the previous candle. Conversely, if a newly formed candle creates a higher high or a lower low compared to the previous candle, it is identified as an outside bar.

It is worth noting that the indicator highlights the inner bars in blue and the outer bars in red.

Specification Sheet – Internal and External Cylindrical Indicators

The table below lists the specifications of the inner and outer bar indicators.

List of internal and external column indicators

The primary application of the Inside Outside Bar indicator is to identify market direction and highlight key support and resistance areas .

Generally speaking, during a bullish or bearish trend, inside bars are seen as signaling a temporary pause and accumulation of energy.

Meanwhile, the outer bars indicate stronger price momentum and a continuation of the current trend.

bullish trend conditions

According to the 1-hour chart of EUR/USD, support areas have formed outside bars, marking the beginning of a bullish move.

Subsequently, the appearance of internal bars confirms the continuity and validity of the uptrend.

Bearish trend conditions

According to the 30-minute chart of EUR/CHF, outside bars have appeared, indicating increasing selling pressure and the beginning of a bearish trend.

Subsequently, the formation of the inner bar marks a brief pause in the downtrend and an accumulation of energy, confirming the continued decline in price.

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

The Inside Outside Bar indicator is a practical technical analysis tool based on price action concepts .

The tool displays inner and outer candles in color directly on the chart. These candles forming near key support and resistance areas can signal reversals and trend continuation.