Babypips: Inside Bar Momentum StrategyThe strategy contained in this post comes courtesy of babypips (.com), an excellent resource for all thing forex related. If you are new to trading, the site is definitely worth checking out!
Code commentary and an introduction to Inside Bars are available for this post on the Backtest-Rookies (.com) website.
Note: If you are interested in custom development services, please check out our services page on the Backtest-Rookies site.
Strategy Overview
Inside Bar Momentum Strategy.
Inside Bar Detection
Position sizing based on stoploss distance ( Note: Based on equity and assumes that the account currency is the counter currency.
Stop buys for entries
Takeprofit / Stoplosses for exits
Control Stopbuy, Takeprofit and Stoploss targets with inputs
Control Backtest start/end dates
Inside Bar
Candle PatternsWith the right knowledge on price action and this indicator you would be able to make great trades.
This unfortunately only works on 1Day chart as of yet. I will design it different in the near future to suit everyone trading desire. Also I designed it on Forex charts so if you want to try on other charts you are more than welcome to try and see if it works.
Doji = Doji for Bull and Bear
Rej = Green - Bullish Red - Bearish
OC = Green - Outside candle Bullish Red - Outside candle Bearish
"IB" = Green - Inside bar Bullish Red - Inside bar Bearish
"PB" = Green - Bullish Pin Bar Red - Bearish Pin Bar
Let me know if you would like to have this indicator. I will give the first few for free as soon as there are a few people that have this indicator I am going to start selling it! :)
I have no coding background at all. . .
I would like to have your comments on this indicator.
Thanks
Inside Bar v2my second attempt in making inside bar indicator only change the color of the inside bar after the bar close (only truly change when new bar is formed) sigh.... i am not a coder anyway.
Multicross - golden/death cross indicator with inside barThis script utilizes five exponential moving averages, golden/death cross flags and inside bars. The EMAs are: 8,13,21,55 and 100. The cross flags appear when: 1st fastest crosses the 2nd fastest, 2nd fastest crosses the 3rd fastest and so on and so forth. Inside The script originated after I watched the youtube video with Philakone talking about swing trades. I started the the four EMAs he used and then decided to add the 100 to add a little more weight to the projected movements. I've noticed sometimes when inside bars and a golden crosses happen simultaneously the movements are more explosive.
Melak's All In One indicator(AIO)This script the following indicators.
Support and Resistance (lines)
MACD Crossover (Crossing arrow under each candle where MACD crosses)
50, 100, 200 Simple Moving Averages (orange lines)
10, 20 Exponential Moving Averages (turquoise and pink lines)
Doji reversals (turquoise candles)
Inside Bar (white diamonds under each inside bar candle)
TD time indicator (numbers on top of candles)
Inside Bars - Rob Dee editCatch Inside Bars with ease with this tool.
Adjust the colour and intensity of the indication candle.
Price-Actionclassic patterns.
daily charts.
CPR-
Green+level=buy
red+level=sell
pinbar
green pinbar+level=buy
red pinbar+level=sell
green ppr+level=buy
ppr-
red ppr+level=sell
IB- and OB-
green IB/OB+level=buy
red IB/OB+level=sell
third bar
green third bar+green cpr+level=buy
red third bar+redcpr+level=sell
3 candles green = buy, tp30 pips(gbpusd,gbpjpy)
3 candles red = sell, tp30 pips. (gbpusd,gbpjpy)
Narrow Range + Inside Day, Short Only Strategy (by ChartArt)This short only strategy determines when there is both a NR7 (narrow range 7, a trading day in which the range is narrower than any of the previous six days), plus a inside day (high of the current day is lower than the high of the previous day and the low of the current day is higher than the low of the previous day) both on the same trading day and enters a short trade when the close is lower than the open and the slope of the simple moving average is downwards, too.
The strategy closes the short trade next time the daily close is lower than the open in any of the next trading days. In addition the NR7ID can be colored (the color is red when the close is lower that day than the open, else the color is green) and the SMA can be drawn with a color based on the direction of the SMA slope. To fine-tune the strategy it is highly recommended to change the period length of the SMA, which determines if the measured SMA slope is downwards or not. In this version 1.1 I made a small change to long only version. By default only the bearish NR7ID days are colored.
Inspiration:
How to trade NR7 and Inside Day Pattern
paststat.com
Code credit:
NR7 indicator script from Tradingview user Lazybear:
pastebin.com
P.S. You can find the 'long only' version of this trading strategy here:
Narrow Range + Inside Day, Long Only Strategy (by ChartArt)This long only strategy determines when there is both a NR7 (narrow range 7, a trading day in which the range is narrower than any of the previous six days), plus a inside day (high of the current day is lower than the high of the previous day and the low of the current day is higher than the low of the previous day) both on the same trading day and enters a long trade when the close is larger than the open and the slope of the simple moving average is upwards, too.
The strategy closes the long trade next time the daily close is larger than the open in any of the next trading days. In addition the NR7ID can be colored (the color is green when the close is larger that day than the open, else the color is red) and the SMA can be drawn with a color based on the direction of the SMA slope. To fine-tune the strategy it is highly recommended to change the period length of the SMA, which determines if the measured SMA slope is upwards or not.
Inspiration:
How to trade NR7 and Inside Day Pattern
paststat.com
Code credit:
NR7 indicator script from Tradingview user Lazybear:
pastebin.com
Fakey pattern (Inside Bar False Breakout)Inside Bar + False-Breakout = Fakey pattern
A Fakey pattern can have a pin bar as the false-break bar or not. Fakey’s are a very important and potent price action trading strategy because they can help us identify stop-hunting and provide us with a very good clue as to what price might do next.