Geo_InnerBar - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Original author:
The Inside Bar indicator shows where temporary price consolidation has occurred.
An internal bar is a bar where the highest price is lower than the previous bar's maximum value and the lowest price is higher than the previous bar's minimum value.
When the next candle does not break through the previous turning point, it is logical to predict a period of price consolidation.
Strategies can be developed based on exiting this range.
The indicator was originally written in MQL4 and first published in the code base on March 2, 2012.
Figure 1. Geo_InnerBar indicator
Attachment download
📎 geo_innerbar.mq5 (4.63 KB)
Source: MQL5 #12524
Geo_InnerBar - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
Geo_InnerBar - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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