# Technical Studies Reference

- Technical Studies Reference
- Common Study Inputs (Opens a new page)
- Using Studies (Opens a new page)

# Outside Bar

This study will color bars that have an Outside Bar pattern. An Outside Bar is a bar that has a higher High and a lower Low than those of the previous bar.

Let \(H\) and \(L\) be random variables denoting the High and Low prices, respectively, and let \(H_t\) and \(L_t\) be their respective values at Index \(t\). Then we denote the **Outside Bar** at Index \(t\) as \(OB_t\), and we compute it for \(t \geq 0\). The method of computation varies slightly depending on the setting of the **Include Equal High Low** Input.

If **Include Equal High Low** is set to No, then we compute \(OB_t\) as follows.

If **Include Equal High Low** is set to Yes, then we compute \(OB_t\) as follows.

In either case the **Outside Bars** are the bars for which \(OB_t = H_t\).

#### Inputs

**Include Equal High Low**: This Input determines which inequalities are used in the computation of \(OB_t\).

#### Spreadsheet

The spreadsheet below contains the formulas for this study in Spreadsheet format. Save this Spreadsheet to the Data Files Folder.

Open it through **File >> Open Spreadsheet**.

*Last modified Wednesday, 28th September, 2022.