Outside Bar Pro

SPECIAL OFFER

When you purchase this indicator, you’ll get 2 FREE alert sounds—one in a male voice and one in a female voice – that announces “outside bar.”

An outside bar is a well-known candlestick pattern with a contrasting logic to the inside bar. It forms when the current bar’s range completely engulfs the previous one, making both a higher high and a lower low. Two of the most significant types of outside bars are the bullish engulfing and bearish engulfing patterns, which are highly reliable indicators of trend reversals.

An outside bar typically signals increased volatility, often leading to strong and sustained price movements.

The Strict Mode in Outside Bar Pro gives you control over how outside bars are defined:

• Strict mode disabled (traditional definition): Outside bars are identified by comparing the high and low of the current bar with the high and low of the previous bar.
• Strict mode enabled (more precise definition): In addition to the traditional criteria, the current bar’s close must also fall outside the high-low range of the previous bar.

You can further filter outside bars based on size, allowing you to set specific criteria, such as requiring outside bars to be at least 0.5 ninZaATR or 10 ticks in size.

You can also filter outside bars based on their direction relative to the previous bar:

• Inverse direction: The outside bar moves in the opposite direction of the previous bar (e.g., bullish engulfing or bearish engulfing).
• Same direction: Both the outside bar and the previous bar move in the same direction, either up or down.
• Both: The direction is ignored.

This indicator uses ninZaATR instead of the regular ATR for enhanced performance. ninZaATR is a proprietary version from ninZa.co, specifically designed to boost indicator performance, particularly on intraday charts. It’s also available as a standalone FREE indicator for members of the ninZaFamily → https://ninza.co/product/ninzaatr.

Key Features:

• Identify outside bars according to the selected Strict mode.
• Set the minimum size of outside bars based on ninZaATR or tick units.
• Highlight outside bars by painting the background.
• Mark the area between the high and low of the previous bar to indicate the outside bar range.
• Color-code outside bars with 3 states: bullish, bearish, or undetermined.
• Trigger alerts when an outside bar is detected.
• Display markers on detected outside bars.
• Fully NinjaScript-ready for advanced customization, limited only by your creativity.
• Provide dedicated NinjaScript signals for seamless integration.

• 30 Mar 2021 – Background color for outside bar was added; a minor issue was fixed.
• 27 Mar 2021 – Regular ATR was replaced with ninZaATR for better performance; massive changes, fixes and improvements were made (DPI, display name, Z order, alert properties, marker string, chart info, property naming/positioning/grouping).
• 09 Mar 2020 – An issue related to exposed parameters was fixed.
• 17 Feb 2020 – The bias of outside bar was introduced; markers were added to signal the bias of outside bar.
• 22 Jul 2019 – Sound selector was fixed.
• 20 May 2019 – An issue with Ninjascript readiness was fixed.
• 01 May 2019 – The indicator was released (built new).