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Small_Inside_Bar - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

author EAcpu | 3 reads | 0 comments |

Small_Inside_Bar - indicator for MetaTrader 5

The indicator searches for "inside bar" patterns and marks them on the chart. In the Inside Bar candlestick pattern, the right candlestick is inside the right candlestick, which is a determinant candlestick. It searches for patterns where the inner candlestick size of the pattern is no more than half the size of the determinant candlestick.

The formula for a bullish setup:

    

  1. High[i]<High[i-1],
    2. 

  2. low[i]>low[i-1],
    3. 

  3. (High[i-1]-Low[i-1])/(High[i]-Low[i])>2,
    4. 

  4. Close[i]>Open[i],
    5. 

  5. High[i]<Median[i-1],
    6. 

  6. Close[i-1]<Open[i-1].
    7.

    The formula for a bearish setup:

      

    1. High[i]<High[i-1],
      2. 

    2. low[i]>low[i-1],
      3. 

    3. (High[i-1]-Low[i-1])/(High[i]-Low[i])>2,
      4. 

    4. close[i]<open[i],
      5. 

    5. low[i]<median[i-1],
      6. 

    6. Close[i-1]>Open[i-1].
      7.

      This indicator has no configurable parameters as patterns are determined based on price action.

      Small_Inside_Bar - indicator for MetaTrader 5

      Attachment download

      📎 small_inside_bar.mq5 (7.77 KB)

      Source: MQL5 #20122

      Small_Inside_Bar - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions

      Small_Inside_Bar - 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 only on titles or short-term profit descriptions.

      Bar Inside MQL5 CodeBase script Small

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