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Arpan_Candles_OL-OH-IB

This script simply shows OL (Open=Low), OH (Open=High) and IB ( Inside Bar ). I personally use OL and OH to take quick scalping trades with very low risk.

OL candle indicates that candle's Open and Low prices are same and a Long trade can be taken with a stoploss below candle low.

OH candle indicates that candle's Open and High prices are same and a SHORT trade can be taken with a stoploss above candle high.

Candles with navy blue colour indicates an Inside Bar. An inside bar is a common pattern where the high and low of one candle occur inside the high and low of the prior candle. Inside bar shows a contraction in volatility and are often a continuation pattern. Previous candle (prior candle to inside bar ) is known as "Mother candle" and trades can be taken on breakout from "Mother candle" , in the direction of breakout and keeping a stoploss below/above "Mother candle".

This script can be used in any time frame. Smaller time frames generate more signals compared to higher time frames.
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This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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