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Platforms: | TradeStation, Multicharts |
| Market: | All(Stock, Futures, Forex, Options…) | |
| TimeFrame: | Minute, Daily, Weekly | |
| Trading Style: | BreakOut, Swing, Reversal, Scalping | |
| Licence: | Lifetime |
The DIG Inside Bars indicator is a unique indicator that was developed by us and can only be purchased on our site. This indicator locates breakouts from sideways moving markets and has proven to work on all time frames (Minutes, Daily and Weekly ).
The indicator is based on candle patterns, where we have a large engulfing candle and a series on inside candles that follow it. You have the option to adjust the minimal and maximal amount of inside bars. When a pattern like this accrues the market is moving sideways. This basically means you should wait before making your decision on long lasting trades or trade within the sideways moving market. When the price does break out of the pattern, the market usually follows in that direction.
SCSS 60 Min Chart. The chart above shows 3 Patterns. The Main engulfing bar is marked with “[X]” of its high and low. As we said the pattern consists of at least the minimal number of inside bars ( set to 6 on the chart above ), the yellow parenthesis mark the bar where the pattern was found. The 2 line mark the upper and lower boundary of our pattern.
Notice that when the upper boundary is broken the price continues going up, which resulted in a nice Long Trade.
BIDU 15 Min Chart. The chart above shows 2 Patterns one Long and one Short. Notice that when the pattern is used on lower time frames such as 15 minutes, we expect the movement after the break to be relatively short.
How to exit the trade?
First of all use you knowledge and intuition and leave the trade when you feel that enough profit has been made or that the trend is about to end.
When you enter a trade on a relatively low time frames such as 5 – 60 minutes, we usually expect the trade to result in a movement that is equal to the size of the pattern. So when the price action reaches a profit equal to the height of the pattern you can either close out the entire trade, or sell of half and place a tighter stop. Together with this approach we recommend you use a trailing stop such as [Link - To DIG _Trailing_Stop].
BIDU 15 Min Chart. When a trade is entered on a medium or high time frame, we expect the trade to result in a large, long movement. Usually long movement tend to have pullback so remember to give the trade some air, don’t place your stops too close. We recommend you place the initial stop on the opposite boundary of the pattern and use a trailing stop to exit the trade. Closing of a part of the position when a certain profit is reached will help you increase you successful trade percent.
- Adjustable minimal and maximal amount of bars in the pattern
- Adjustable extra clearance above and bellow the pattern for the boundaries
- New Extra Feature – Filter out bad trades by setting the volatility filter for the Main Bar
- Select the trading our during which you want the indicator to look for patterns.
Buy a Lifetime Licence for the DIG Inside Bars Indicator:
After purchase, the code will be sent to your email with instructions on how to install & use it.It usually takes us 48 to send the product.
Secure Purchase: You will be transferred to a secure purchase page, we are using paypal as our third party checkout. the purchase page will look like this:
