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Traders' Tips from TASC Magazine
Three-Bar Inside Bar Pattern

The article by Johnan Prathap in this issue, “Three-Bar Inside Bar Pattern”, describes the trading strategy that uses an inside bar as a three-bar pattern for long and short positions.

Using Tradecision’s Strategy Builder, one needs to create the THREE-BAR INSIDE BAR PATTERN strategy:

Entry Long Rule:

var
Cond1:=false;
Cond2:=false;
end_var

if Close > Close\1\ then
   Cond1 := true;
if High < High\1\ AND Low > Low\1\ then
   Cond2 := true;


If IsInPosition() = false then
   begin
        If Cond1 and cond2\1\ and Cond1\2\ then
           return true;
   end;
return false;

Entry Short Rule:

var
Cond2:=false;
Cond3:=false;
end_var

if High < High\1\ AND Low > Low\1\ then
   Cond2 := true;
if Close < Close\1\ then
   Cond3 := true;


If IsInPosition() = false then
   begin
        If Cond3 and cond2\1\ and Cond3\2\ then
           return true;
   end;
return false;

Exit Long Rule:

If IsLongPosition() = true then
   return true;

return false;

Exit Long Limit Price:

var
Tr:=0.75;
end_var

return SignalEntryPrice + 
(SignalEntryPrice * Tr/100);

Exit Long Stop Price:

var
Sl:=0.75;
end_var

return SignalEntryPrice - 
(SignalEntryPrice * Sl/100);

Exit Short Rule:

If IsShortPosition() = true then
   return true;

return false;

Exit Short Limit Price:

var
Tr:=0.75;
end_var

return SignalEntryPrice - 
(SignalEntryPrice * Tr/100);

Exit Short Stop Price:

var
Sl:=0.75;
end_var

return SignalEntryPrice + 
(SignalEntryPrice * Sl/100);



Download to import into Tradecision.

How to use this indicator in Tradecision:
  1. Click Download.
  2. Save this indicator in a safe location on your hard drive.
  3. Open Tradecision and in the Tools menu click Indicator Builder.
  4. In the Indicator Builder dialog, click Import, locate the saved file and then click OK.
The indicator will be added to the Custom Indicators list.
 
Three-Bar Inside Bar Pattern
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