The Inside Bar Indicator MT4 is a pattern indicator for MetaTrader 4 designed to identify and indicate inside bar candlestick patterns on the main chart. It visually marks these patterns using colored lines, making it easier for traders to spot potential opportunities. The inside bar pattern itself consists of two candlesticks, where the second candlestick is fully contained within the range of the previous one. This pattern can signal either a reversal or continuation of the prevailing market trend.

The Inside Bar pattern generates more accurate signals on higher time frames and in a strong trending market. When the pattern appears in an uptrend, the indicator marks the high and low of the pattern on the chart. If the next candlestick breaks above this high, it suggests a continuation of an uptrend. In a downtrend scenario, the indicator plots the pattern’s high and low. A break below the low by the subsequent candle indicates a downtrend continuation. As a result, this tool becomes a valuable asset for traders aiming to identify inside bar setups. Therefore, forex traders can leverage these signals to execute trades more effectively.

This indicator is suitable for traders of all skill levels. It is mostly effective in higher time frames. Its versatility extends to trading multiple currency pairs within any forex trading system or strategy, to identify inside bar candlestick patterns.

Indicator Settings

How to Install Inside Bar Indicator MT4

Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:

The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.

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