Inside Bars

il y a 3 jours

Inside Bars

📌 Overview:
This indicator scans for multiple inside bars during periods of consolidation by dynamically designating a “mother bar” and then marking subsequent bars that trade entirely within its range. It includes an optional doji filter on the most recent candle, helping to confirm indecision before potential breakouts.

🛠 Key Features:
✅ Dynamic Mother Bar Identification:

The script selects a mother bar when the current bar’s range exceeds that of the previous bar. This bar sets the high and low boundaries, creating a reference zone for later price action.

Once a mother bar is defined, subsequent candles that remain completely within its high and low are flagged as inside bars.


✅ Optional Doji Check:

For added precision, an optional feature lets you verify that the most recent bar is a doji—a candle where the difference between the open and close is minimal relative to its total range. This additional filter highlights periods of market indecision, which can often precede strong directional moves.


⚡ Add this script to your chart and enhance your trading strategy! 🚀

il y a 3 jours

Notes de version

New User Inputs:

• Plot EMA: When enabled (default true), the script plots the EMA using the specified period (default 10).
  
• Last Candle Above EMA: When enabled (default true), it adds an extra condition that requires the current bar's close to be above the EMA.
  

Inside Bar Condition Update:

• The inside bar detection logic now includes a check for the EMA condition if the respective checkbox is enabled.
  

il y a 16 heures

Notes de version

Added option to select EMA source