Find Outside Vertical Bars with Alerts can be found in the indicators section of the MQL 5 marketplace, there is a link to it below so you can see exactly which indicator we are looking at. The indicator was first uploaded on the 16th of April 2014, it has had a number of further updates including the latest one on the 6th of May 2014 which brought the indicator up to version 1.2.
Find Outside Vertical Bars with Alerts is an indicator for the MetaTrader 4 trading platform, the indicator works by looking for price action outside bar patterns, it will then set a signal pointer on the base bar and a pending order level on the signal bar. The indicator will also generate signals when a pattern is detected.
There are a number of parameters available to alter:
- Draw Patterns – draw the graphical representation of the pattern
- The color of the Bullish pattern
- The color of the Bearish pattern
- Fill or Frame pattern – fill the pattern with color or draw only a frame
- Width of the frame pattern
- Use Alerts – notify about a pattern
- Send Push-notifications – send push-messages about the found pattern
- Send mail – Send an e-mail about the found pattern
The indicator can currently be purchased for $10, so it is on the chapter side, this version does not have any limitations to it, there is no opportunity to rent it so purchasing is the only option available. There is a free demo version, this will have some limitations but they are no known to us as the limitations are not stated on the website, it may still be worth downloading to try out though.
Unfortunately, there are no reviews, ratings or comments for this indicator so we have no idea if those that are using are finding that it does what it is meant to do. However, we would expect there to be some negative reviews if it wasn’t working as intended. Due to the lack of information, we would strongly suggest that you download and try out the free version, you could also send the creator a message, this will test to see whether they are still actively supporting the indicator or not before you make a purchase.
This FX service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/4030