Insider Bars – Bar Value Area

The Bar Value Area is the central zone where a user-determined percentage of volume traded. For example, the default value of 70% corresponds to one standard deviation bands in statistics. The difference between value area and standard deviation is that value area is the actual value based on the entire population (i.e., trades occurring in a bar), whereas standard deviation is an estimate of value area.

The value area high and low represent stronger resistance and support than the bar’s actual highs and lows, which often have minimal volume. Also pay attention to the skewness of the value area, i.e., whether it is nearer the top of the bar, the bottom or is centered. This is a simple way to see where in the bar most of the volume traded.

Insider Bars Bar Value Areas are denoted as a thicker “body” when using HLC+ paintbars, or on candle paintbars as a secondary rectangular body on top of the candle body.

Note: Blog posts like this one offer basic information. For more details, see online help.

 

Insider Bars Paintbar Type

This setting allows you to set Insider Bars paintbars to match your chart setting. Or you can turn off Insider Bars paintbars if you wish to use your own custom paintbar.

EasyLanguage cannot tell if your chart is set to a candle style. If you wish to use candle charts, you must manually set candle style on Insider Bars.

Settings available are as follows:

Candle Choose this option if you wish to use candlestick charts. While candlestick charts are popular right now, more analysis and display choices are available when using the HLC+ option.

OHLC Traditional open-high-low-close

HLC+ This is a custom high-low-close style, with the close connected to the following bar. The only open shown is that of the first bar of the day.

C+ This is a connected close style. It is similar to HLC+, except the highs and lows are omitted.

Bar highs and lows are sometimes redundant with Insider Bars drawing objects, and C+ style allows you to simplify your charts.

Note: Blog posts like this one offer basic information. For more details, see online help.

 

 

 

Saving and Restoring Defaults

Most of the OF-G indicators have the option to save and restore default settings. This may be used to transfer favorite settings to new charts, or to transfer your settings from one product to another. For example, if you upgrade your subscription from Insider Bars to OF-G Suite, you can copy the settings from your old Insider Bars charts to your new OF-G Suite charts without having to manually recreate them.

To save the current settings,  check the box on the Input Form or choose Save Defaults from the right-click menu.

To restore saved defaults to a chart, chose Restore Defaults from the right-click menu.

Note: Blog posts like this one offer basic information. For more details, see online help.

Insider Bars – Save Calculated Data for Faster Startup

When using minute or second charts, the Insider Bars indicators have the option to save calculated data with the workspace. This reduces load times significantly once data has been loaded, since far less data must be read, sorted and processed.

For this option to work properly, the workspace must be saved each time you close the platform. If not, all the newly collected data is not saved and must be re-downloaded.

Note: Blog posts like this one offer basic information. For more details, see online help.

Insider Bars – Combine Ticks

When using Insider Bars raw data options, you can choose to group price points together. For instance, you might wish to group stock prices together into 10 cent or one dollar increments rather than one cent, to make the chart easier to view. Combining ticks is useful when volatility is high or when a market’s tick size is small.

The Combine Ticks option is only available when using raw data.

Note: Blog posts like this one offer basic information. For more details, see online help.