IL - Inside Bar Detector - v01

Indicator: IL - Inside Bar Detector - v01
Product: An Indigo Lynx Indicator
Copyright: © Indigo Lynx, v01, 2025-07-04

Description:
This indicator identifies Inside Bar candlestick patterns, which can signal
consolidation or indecision in the market, often preceding breakouts.
It offers multiple definitions for what constitutes an Inside Bar, an
optional volume filter, and differentiates markers and display for
bullish or bearish closing inside bars.

Features:
- Detects Inside Bar patterns.
- Configurable Inside Bar Definitions (via "Inside Bar Definition" input):
1. "Body (O/C)": Current O/C body within previous O/C body.
2. "Range (H/L - Standard)": Current H/L within previous H/L.
3. "Super (Range & Body)": Requires BOTH conditions.
- Optional Volume Filter: Inside Bar volume < SMA of volume.
- Display Toggles: Separate options to show/hide Bullish closing IBs
and Bearish closing IBs.
- Customizable Visuals: Bar color and optional plotshape markers (differentiated
for bullish/bearish closing inside bars using "BI" and "BRI" text).
- Data Logging: Option to log detected pattern details.

How to Use & Interpret:
- Configure definition, volume filter, and display options.
- Inside Bars are highlighted by bar color if their type (bullish/bearish closing) is enabled.
- Optional shapes: Green up-triangle (BI) for bullish-closing Inside Bars,
Red down-triangle (BRI) for bearish-closing Inside Bars, if enabled.
- Use with other analysis methods for confirmation.

Disclaimer: Trading involves substantial risk of loss and is not suitable for all investors.
Past performance is not indicative of future results.