Inside Outside Bar Indicator

Inside Outside Bar Indicator

Forex BUY and SELL signals from the best Inside Outside Bar Indicator. Uses inside and outside bars to determine trend direction.

The Inside Outside Bar Indicator is a simple MT4 indicator that colors the outside and inside bar candles. The inside bar represents the close-bodied, whereas the outside bar mentions the open. The Indicator only colors the body of the candle and not the border.

The indicator plots an inside bar whenever a bigger bar surrounds the smaller one. It can appear in an uptrend or downtrend. Conversely, the Indicator draws an outside bar when the high of the bar is above the high of the previous bar. The image below shows the inside and outside bars on the chart.

Inside Outside Bar Indicator BUY/SELL signals

The above GBP/USD 4H chart shows BUY and SELL signals with the indicator. To determine the direction of the trend, traders need to locate the inside and outside bars. Whenever the inside and outside bars pop up, traders need to enter within the levels of support and resistance. When the bars appear between these levels, it identifies a stronger trend.

Whenever the bars appear in the middle, traders should wait for the price action to move either up or down and then take their positions. Traders can also use other indicators along with the Indicator for further signal confirmation.

Conclusion
The Inside Outside Bar Indicator tells the direction of the trend by pinpointing inside and outside bars. It tells the levels of support and resistance by drawing bars. Besides, you can download the indicator for free from our website.