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AlchemyOutsideBar (Function)

AlchemyOutsideBar identifies an outside bar.  If the criteria of an outside bar is met, the AlchemyOutsideBar function returns 1, otherwise a -1 will be returned

AlchemyOutsideBar

Returns

f the criteria of an outside bar is met, the AlchemyOutsideBar function returns 1, otherwise a -1 will be returned

Usage

An Outside Bullish Bar occurs when the high and low of the bar exceeds the high and low of the previous bar and price closes near the upper area of the bar.  The low of the Outside Bullish Bar is commonly used by traders as an important area of support in an uptrending market.   An Outside Bearish Bar occurs when the high and low of the bar exceeds the high and low of the previous bar and price closes near the lower area of the bar.  The high of the Outside Bearish Bar is commonly used by traders as an important area of resistance in a downtrending market.

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