Inside Bar Marker

An inside bar is a range test: the current bar's high is below the previous bar's high, and its low is above the previous bar's low. Traders use it as a compression signal - price coiling before a breakout in either direction - and usually want to see exactly where that compression sits relative to the mother bar's high and low. Rather than leave you to eyeball the previous candle, this indicator draws a dotted rectangle across the mother bar's range, from the mother bar to the inside bar. Each inside bar in a run of several draws its own box against its own true previous bar, which is a simpler and more honest approach than trying to track one "original" mother bar across an arbitrarily long compression that may itself contain multiple valid ranges. Notes and limitations - Confirmation happens on the bar's close - the forming bar's range can still expand, so it is never evaluated and nothing here repaints. - This does not detect or draw a breakout from the inside bar; it only marks the compression itself. Pair it with a manual breakout order or a separate breakout tool if that is the intended trade. - Rectangle objects are prefixed "IBX_" and removed in OnDeinit; they accumulate one per inside bar for the visible chart history, which is intentional so past compressions remain visible for review.

Indicator · MT5 · v1.0 · Free

Tags: Breakout · Candlestick Patterns · Buy/Sell Arrows · Alerts · MT5 Indicator · MQL5 Source Code

MetaTrader 4 & 5 indicators · PolyMaria