The inside bar indicator is one of the strongest signals that traders can use for identifying trade signals, inside bars express the consolidation of price action where the bulls and bears both struggle to move the price higher or lower from its current position. It can help traders with a price breakout that may happen in the near future for buying or selling an asset.
Requirements
No specific requirements, this indicator should work with all versions of the cTrader Desktop platform.
What is an Inside Bar?
An inside bar is a popular reversal & continuation candle formation that only requires two to form the condition, it can be used for the short-term market sentiment that will help identify future big moves. The pattern is identified when the last candle that is formed has a higher high and lower low smaller than the previous candles HH and LL as shown in the picture below.
How to Trade Using Inside Bars?
The inside bar can be used for a short-term trade like a swing trade in the opposite direction of the trend with the purpose of holding the trade for less than 10 complete candles (bars). We understand that the documentation is limited, to find out how to use it try a Google search for Inside Bar, you can also visit Investopedia for help.
Coloured Inside Bars
We understand that many inside bar indicators available do not have an option to change the colour of the candle (bar), this version includes this option as well as identifies if the candle is bullish or bearish, to change the colour in the settings just type the correct colour name.
Custom Parameters
The indicator allows the option to set the colour for the inside bar and also its width for when you zoom in and out of the charts, also, dots will appear above and below the candle showing if it is a bullish or bearish candle. The Telegram feature once configured will send you an alert when an inside bar candle forms with information on the symbol, timeframe and direction of the bar.
Telegram Alerts Configuration
When there is a trade signal you can get a free instant telegram message.
Install the Telegram App on your mobile phone or PC and receive free instant messages, you no longer need to pay using an SMS service.
Remove Author Box
You can easily remove the author box shown on the chart by setting the show author parameter in the indicator settings to No.
How To Install & Remove
First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install it onto the platform.
Any Questions?
If you have any questions, please first search our product help forum for the answer, if you cannot find it, post a new question.
