Find Outside Vertical Bars

This indicator looks for the Price Action Outside Vertical Bar patterns and sets a signal pointer on the base bar and the level of a pending order on the signal bar.

BUOVB - Bullish Outside Vertical Bar.

The signal bar completely covers the previous one, its Close price is above the High of the previous bar. Enter a trade at the breakthrough of the High of the signal bar + filter (5-10 points).

BEOVB - Bearish Outside Vertical Bar.

The signal bar completely covers the previous one, its Close price is below the Low of the previous bar. Enter a trade at the breakthrough of the Low of the signal bar + filter (5-10 points).

The indicator has six external parameters:

• Draws patterns - display graphical objects (mark the pattern with a rectangle).
• The color of pattern up - the color for the long objects.
• The color of pattern down - the color for short objects.
• frame or Fill pattern - mark the pattern with a frame or a fill
• Width of the frame pattern - pattern rectangle line thickness, if frame is selected in the frame or Fill pattern
• Style frame line - style of the pattern frame line at Width of the frame pattern = 1. If the thickness is greater than 1, then the line is solid