49# PTL Inside Bar Trading
Trend Trading with Inside Bar
PTL indicator MQ4 as filter of Inside Bar
Submit by alex
An inside bar pattern formed when the second bar or candlestick is engulfed within the previous bar or candlestick’s high and low. Inside bar price action Pattern are formed when price or market sentiment is positioned in one direction. For example, most valid inside bars are those that are formed when the preceding price bars show bullish or bearish sentiment.
PTL Inside Bar Trading is price action strategy based on the Inside Bar pattern filtered in the direction of the trend determined by PTL indicator mq4 trend following. PTL is an trend following indicator created by Mladen (rock star MQ4).
It is recommended to apply this strategy to time frames from 30 minutes or above.
Currency pairs: major and minor.
Metarader 4 indicators:
PTL indicator mq4 (default setting).
Inside bar indicator that determines the inside bar and marks its High/Low. It is plotted based on the closed candles (does not redraw). The identified inside bar can be displayed on smaller periods. You may set a higher period (to search for the inside bar) and analyze on a smaller one.
Indicator Parameters: Period to find Inside Bar — the period to search for the inside bar. To have less operation it is advisable to change the configuration of the indicator. If a specific period is set, the search will be performed in that period. In the folder there is also an EA that manages orders.
How to install template
MT4 1170+ built installation guide
Open MT4 platform. Click: File/Open Data Folder.
Inside click: MQL4/Indicators – and paste indicator.
Paste template to Templates folder.
MQL4\Experts – paste „FATv3 Trader On Chart v1.5b.ex4“ EA
MQL4\Libraries – paste „fatv3_toc.dll“
After finished restart you MT4 platform for changes to apply.
Trading rules PTL Inside Bar Trading
Tasdes only in the direction of the trend
Buy
Green dot of PTL indicator mq4.
When forming an inside bar, place a pending order 2 pips above the red line of the inside bar pattern.
Sell
Red dot of PTL indicator mq4.
When forming an inside bar, place a pending order 2 pips below the blue line of the inside bar pattern.
Exit position
Place initial stop loss below/above the previous swing high/low l
Profit target minimum ratio stop loss 1:1.
Avoid entering inside bar pattern with very long candles.
In the pictures PTL Inside Bar Trading in action.
Share your opinion.
