Inside Bar

Inside Bar NinjaTrader 8 indicator is designed to help traders identify inside bar patterns on the financial market. The indicator has three parameters that can be adjusted to customize its functionality.

An inside bar is a bar pattern that forms within the range of the preceding bar, and it signals a possible indecision in the market.

The indicator works by analyzing the price data on a chart and identifying bars that have a high and a low that are completely contained within the range of the preceding bar. When the indicator identifies an inside bar, it will plot a signal on the chart to alert the trader.

This indicator is specifically designed for the NinjaTrader 8 platform, making it easy to use and integrate with other tools and indicators. The indicator offers a visual representation of inside bar patterns, allowing traders to quickly and easily identify potential trade opportunities.

With this indicator, traders can use the inside bar pattern as a part of a larger trading strategy, or as a standalone tool for detecting changes in market sentiment. The indicator is designed to be user-friendly and easy to interpret, making it suitable for traders of all levels of experience.

The indicator plots a signal on the chart when an inside bar is identified and meets the conditions set by the Max Close and Exclude Tight Body parameters. This allows traders to quickly and easily identify inside bar patterns and potential trade opportunities. The indicator is designed to be user-friendly and easy to interpret, making it suitable for traders of all levels of experience.

• Max Close (double): The Max Close parameter represents the maximum allowed distance between the close of an inside bar and the high or low of the bar, measured as a ratio of the bar range. For example, if Max Close is set to 0.3, it means that the close of the inside bar must be in the upper 30% of the bar range in order to be considered a valid signal for an inside bar going long.
• Exclude Tight Body (bool): When enabled, the indicator will not consider inside bars and the prior bar with a tight body. The tight body is defined as a bar whose body is less than 50% of the bar range.
• Plot Offset (Ticks): The Plot Offset (Ticks) parameter represents the distance at which the indicator will plot the signal relative to the high or low of the bar. This value is measured in ticks.

• IndicatorSignalUp (double): When a bar meets the conditions set by the indicator parameters, the IndicatorSignalUp plot will have a value that is equal to the low of the bar minus the Plot Offset number of ticks.
• IndicatorSignalDown (double): When a bar meets the conditions set by the indicator parameters, the IndicatorSignalDown plot will have a value that is equal to the high of the bar plus the Plot Offset number of ticks.
• SignalUp (bool): same as IndicatorSignalUp, but instead of having a double type, we have a bool type. Its value is true when the conditions are met and false when they are not.
• SignalDown (bool): same as IndicatorSignalDown, but instead of having a double type, we have a bool type. Its value is true when the conditions are met and false when they are not.