Pinbar Scanner With Trend Filter
The indicator was created by the former employee of the hedge fund. It automatically determines the most probable pin bars.
Details and trade process presented in our short video.
Features
- Simultaneous monitoring of all 28 pairs.
- Monitoring all timeframes - M1 to MN.
- Alerts in real-time detection of a strong pin-bar.
- As a trend filter RSI is used to properly identify potential trend reversals.
Options
- RSI Period: RSI filter settings
- RSI Up Level: RSI overbought level to filter. Pin bar must be formed higher this level to be considered valid.
- RSI Down Level: RSI oversold level for the filter. Pin bar must be formed below this level to be considered valid.
- Pinbar Percent: The maximum allowable ratio of the length of the body. The lower the percentage value, the less the candle body.
For example:
- If the value is 5 candle body may be maximum 5% (1/20) of the entire candle.
- If the value is 10 candle body may comprise a maximum of 10% (1/10) of the entire candle.
- If the value is 25 candle body may comprise a maximum of 25% (1/4) of the entire candle.
The lower the value, the more pronounced must be PIN bar.
- Symbols: Select the pair for monitoring. By default, the indicator tracks the 28 base pairs, but you can reduce their number.
- Alert on M1: Alert on M1 - True = yes, False = no
- Alert on M5: Alert on the M5 - True = yes, False = no
- Alert on M15: Alert on M15 - True = yes, False = no
- Alert on M30: Alert on M30 - True = yes, False = no
- Alert on H1: Alert on H1 - True = yes, False = no
- Alert on H4: Alert on H4 - True = yes, False = no
- Alert on D1: Alert on D1 - True = yes, False = no
- Alert on W1: Alert on W1 - True = yes, False = no
- Alert on MN1: Alert on MN1 - True = yes, False = no
More details are provided in the screenshots below. If you have questions, please contact us.
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