It probably just has to do with how it defines "inside". For me I want to see any bar whose high and low is equal to or inside of the previous bar. I haven't looked at the code on that insidebar indicator but it could be defining an inside bar as one whose high and low are inside the open and close of the previous bar (or something like that, as I said I haven't looked at the code)
Actually I'm also interested in both types of inside bars (inside OC and HL)
Unfortunately I'm not programmer
So, if you will create indicator which shows both type of inside bars please let me know I will be very appreciative to you for that as now working over some studies about that bars, but need simple visualization of it.
Try this . It will paint IBs and OBs blue if close > open and fuchsia if close < open . This is a cut and paste homebrew indicator I put together . In other words you got to specify which panel (1) to view it in and use it calculate on bar close . BTW my definition of IB is if current bars low > last bars low and current bars high is < last bars high . OB - current bars low is < last bars low and current bars high > last bars high . Its the way I use them but respect how others interpret them . Let me know if I didnt export correctly .
The following 4 users say Thank You to Eric j for this post:
Sure , let us know how you use the OBs and IBs . Heres how my daily ES looks with them . Notice how when price hits the 50 ema a reversal bar forms when the trend takes off again . Couple that with volume confirmation and you got yourself a method .
The following user says Thank You to Eric j for this post:
thank you for sharing below, I will look into that deeper.
How I use IB and OB :
pull up yesterday 5 min chart of ES and just draw lines from one OB or IB to another, you will see what I mean, it's quite obvious
+ I thank you again for your "version" of IB, however correct one is when bar inside previous open&close I trying due to some reasons avoid nowadays any calculations based on open/close, so your version based on H/L fitted my style great
(do not know why, but I like that smile)
I will revert once again with some news about IBOB.
a few questions regarding your set up.
Why you are using 50 EMA, but not, say SMA ?
I know a lot traders prefer EMA to SMA is that reply ?
+ blue channel with grey middle line is that linear regression channel ?
Thats a LGC . I dont prefer one MA over the other . The only chart I look at with an MA is the daily and EMA is what I have had there for a while , its strictly for reference . I only take heed and prepare for a reaction when DAILY price meets up with the ema , I dont use that alone as a signal .
sorry don't know what is LGC
I use MAs the same way.
Have you looked on the charts I've mentioned ? Looks nice, isn't it ?
Will post more later.
P.s. I have 1.52 AM now, time to stop work