What is the Inside Outside Bar Indicator for MT4?

The Inside Outside Bar indicator (IOB) is a technical indicator that helps traders identify whether the price will rise or fall.

The IOB measures the difference between two moving averages: the inside moving average (IMA) and the outside moving average (OMA). The IOB is calculated as the difference between these two averages and is used to predict whether the price will increase or decrease.

Inside Outside Bar Indicator

Download the free Inside Outside Bar Indicator

The IOB is usually combined with other indicators, like the MACD or Volume. When the IOB indicates that a market is about to go up, it will Indicate this by displaying a green bar at the bottom of the chart. Conversely, when it indicates that a market is about to go down, it will display a red bar at the bottom of the chart.

How to use the Inside Outside Bar Indicator for MT4

The Inside Outside Bar Indicator is a technical analysis indicator that can be used for forex trading. It indicates whether the price is inside or outside the previous bar’s range.

To use it, you first need to set up your chart with a timeframe of at least 1 minute. You then must select the Numeral 2 box on your graph and click on the indicator. The indicator will start displaying two bars on either side of the current bar. The first bar (the inside bar) indicates that the price is inside the range of the previous bar, while the second (the outside bar) means that it is not.

Inside Outside Bar Indicator MT4 trading settings

The forex Inside Outside Bar indicator is a popular technical analysis tool that helps traders determine whether the market is heading higher or lower.

To use this indicator, you first need to create the “Forex Inside” and “Forex Outside” indicators. The Forex Inside indicator will display the percentage of stocks in the buy zone (above the blue line) compared to those in the sell zone (below the blue line). The Forex Outside indicator will do the same for stocks going up (above the red line) versus down (below the red line).

Next, you need to set up your trading settings so that your trading software automatically opens a trade position when a stock moves above or below one of these zones.

Inside Outside Bar Indicator Advantages

The forex Inside Outside Bar indicator is a popular technical analysis tool that can be used to identify whether a currency is oversold or overbought.

When the indicator is activated, it will show two colors on the chart – one for when the currency is oversold and the other for when it’s overbought. This makes it easy to see which direction the money is heading in and whether it’s time to buy or sell.

The forex Inside Outside Bar indicator has several advantages that make it useful for Forex traders. First, its simplicity makes it easy to understand, even for those with a lot of technical analysis experience. Second, it’s highly effective at signaling when a currency is about to enter or exit a buying or selling territory. Third, its frequency (every 15 minutes) ensures that you’ll always have up-to-date information about the direction the currency is going.

So if you’re looking for an easy-to-use and reliable technical analysis tool, the forex Inside Outside Bar indicator should be at the top of your list!

Inside Outside Bar Indicator Disadvantages

The inside Outside Bar indicator can be a powerful tool when used correctly, but like any other indicator, it has its disadvantages. Here are three of the most common ones:

  • – It cannot be obvious to use.
  • – It can sometimes lead to incorrect trading decisions.
  • – It only sometimes works well in volatile markets.

IOB Indicator installation on MT4

To install the Inside Outside Bar indicator on the MetaTrader 4 (MT4) platform, follow these steps:

  1. Open the MT4 platform, click “File” in the top menu, and select “Open Data Folder.” This will open a folder with your platform files.
  2. In the data folder, open the “MQL4” folder, then the “Indicators” folder.
  3. Download the Inside Outside Bar indicator file (it should have the “.mq4” file extension) and save it in the “Indicators” folder.
  4. Close and reopen the MT4 platform. The Inside Outside Bar indicator should now be available in the “Navigator” window under the “Custom Indicators” folder.
  5. To add the indicator to a chart, click on the “Indicators” button in the toolbar at the top of the chart window, select “Custom” from the list, and then choose the Inside Outside Bar indicator from the list of available indicators.
  6. A new window will open where you can set the indicator’s input parameters, such as the number of periods to consider and the price to use. Click “OK” to apply the hand to the chart.

Inside Outside Bar Indicator mt4

Inside Outside Bar Indicator mt4 free download


In conclusion, the Inside Outside Bar Indicator is a valuable tool for traders looking to make better financial decisions. It can help you identify market patterns that will allow you to make informed predictions about future events.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Telegram Channel | Quora | Reddit

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