FxLowe

Inside Bar Breakout Failure

Simple indicator to highlight Inside Bar Breakout Failure patterns on chart.
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//FxLowe - Inside bar breakout failure.

study(title = "Inside Bar Breakout Failure", overlay = true)

outsidebar = (high >= high[1] and low <= low[1])
insidebar = ((high[1] <= high[2] and low[1] >= low[2]) and not(outsidebar))

bearishibbf=( insidebar and (high > high[1] and close < high[1]))
barcolor( bearishibbf ? white : na, 0, true, "Bearish Inside Bar Breakout Failure")
plotshape(bearishibbf, title= "Bearish Inside Bar Breakout Failure", location=location.abovebar, color=white, style=shape.arrowdown, text="Inside Bar\nBreakout Failure")

bullishibbf=(insidebar and (low < low[1] and close > low[1]))
barcolor( bullishibbf ? white : na, 0, true, "Bullish Inside Bar Breakout Failure")
plotshape(bullishibbf, title= "Bullish Inside Bar Breakout Failure", location=location.belowbar, color=white, style=shape.arrowup, text="Inside Bar\nBreakout Failure")
Looks good.....a checkbox option to NOT display label would be great also. Many thanks.
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FxLowe TonyCampbell
Good idea.

Update posted.
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FxLowe FxLowe
Actually, just realized you can already toggle this through the style settings.
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I don't see that option on the Style tab.......only the candle color and arrow locations......neither seem to affect label display. Thanks.
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FxLowe TonyCampbell
Ah... Well, I published another version of this earlier with the checkbox option like you suggested. Hope that helps.
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