The Inside Bar Indicator by IndicatorSpot is a useful tool for traders who are interested in using an inside bar trading strategy. It identifies the formation of inside bars on the price chart and alerts the trader to potential trading opportunities. The indicator works by scanning price action and looking for inside bar patterns that occur when a candlestick’s high and low are inside the previous candle’s high and low. This may indicate a period of consolidation or indecision in the market, which could lead to a breakout or reversal. All in all, the inside bar indicator is a useful tool for traders who are interested in using the inside bar trading strategy to find profitable opportunities in the forex market.
The Inside Bar Indicator is a popular and useful tool for forex traders, available for free on MT4. It helps identify potential price breakouts and is a great addition to any trading strategy. The indicator identifies inside bars, which are candlestick patterns where the current candlestick is completely within the range of the previous candlestick. With its simple and intuitive interface, it is easy to install and use for both novice and experienced traders.
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Category: Price Action
How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.