Inside Bars/Candles [CodeCraftedTrading]

sugatmankar Updated   
This Pine Script indicator is designed to identify and visually represent inside bars or candles. Here's a breakdown of its features and functionality:

1. Inputs:
  • insideCandlesColor: Color of the inside bars or candles.
  • highColor: Color of the horizontal line representing the high of the inside bar.
  • lowColor: Color of the horizontal line representing the low of the inside bar.
  • showHighLowLabel: Option to display labels for the high and low prices.

2. Logic:
  • The script checks for the conditions of an inside bar:
  • high < high[1] and low > low[1]
  • If an inside bar is detected and is not already in the range:
    * Stores the high and low prices of the previous bar.
    * Records the parent bar index and sets the broken flag to false.
  • If the current bar's high exceeds the stored high or the low falls below the stored low, the broken flag is set to true.
  • If the current bar is within the stored high and low range, it is considered in-range.
  • The script then dynamically plots horizontal lines at the high and low prices of the parent bar until the inside bar is broken.

3. Visualization:
  • The inside bars are colored based on the insideCandlesColor.
  • Horizontal lines are drawn at the high and low prices of the parent bar within the inside bar.
  • Optional labels display the rounded values of the high and low prices.

4. Usage:
  • Apply the script to your chart.
  • Adjust the input parameters according to your preferences.
  • The indicator will highlight inside bars with colored bars and draw lines representing the high and low prices. Labels are optional.

5. Note:
  • Inside bars are bars where the entire price range is within the high and low of the previous bar.
  • The script uses historical bar information and visualizes the inside bars dynamically on the chart.

Release Notes:
  • Added precision up to 5 as it is required in forex symbols.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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