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Pinbar indicator

  • Post #1
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  • First Post: Edited 3:35pm Mar 29, 2009 3:11pm | Edited 3:35pm
  •  mikkom
  • Joined Mar 2008 | Status: Still testing and trading | 1,537 Posts
Hello all,

Someone mentioned in some other thread that he was looking for pinbar indicator, here is my take on that. It's a "MTF" indicator meaning that you can look for a pin bar in higher timeframe and zoom to lower timeframe so that you can see how it formed.

The formula is my personal take on how to identify pinbars so it might be a bit different than what some people might use.

Cheers all,
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  • Post #2
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  • Apr 9, 2009 1:24pm Apr 9, 2009 1:24pm
  •  vulture
  • | Joined Oct 2008 | Status: Member | 513 Posts
Quoting mikkom
Disliked
Hello all,

Someone mentioned in some other thread that he was looking for pinbar indicator, here is my take on that. It's a "MTF" indicator meaning that you can look for a pin bar in higher timeframe and zoom to lower timeframe so that you can see how it formed.

The formula is my personal take on how to identify pinbars so it might be a bit different than what some people might use.

Cheers all,
Ignored
Hi mikkom!
That's is an interesting indicator! especially if you can zoom the situation in lower timeframe. My question is how do you zoom it in lower time frame? is there any way to set my own parameter? for example: if i want it to indicate the pin that have the gap between open and close to be below ,10%,20%.. etc of the pin range. Thanks again for your effort.
"Simplicity is the ultimate sophistication" leonardo da vinci
 
 
  • Post #3
  • Quote
  • Apr 9, 2009 1:51pm Apr 9, 2009 1:51pm
  •  mikkom
  • Joined Mar 2008 | Status: Still testing and trading | 1,537 Posts
Quoting vulture
Disliked
Hi mikkom!
That's is an interesting indicator! especially if you can zoom the situation in lower timeframe. My question is how do you zoom it in lower time frame? is there any way to set my own parameter? for example: if i want it to indicate the pin that have the gap between open and close to be below ,10%,20%.. etc of the pin range. Thanks again for your effort.
Ignored
No, there is no way to change the pin definition. Just enter the "TF" parameter to higher timeframe on lower timeframe chart and it will show how pinbar is formed on that timeframe.
 
 
  • Post #4
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  • May 21, 2009 6:16pm May 21, 2009 6:16pm
  •  supremeChaos
  • Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
excellent "personal take" on a PB, mikkom.
 
 
  • Post #5
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  • Oct 14, 2011 2:34pm Oct 14, 2011 2:34pm
  •  EnPoint
  • | Joined Nov 2010 | Status: Member | 30 Posts
What rules define this indicator? I notice that it doesn't paint some pretty good pinbars.
 
 
  • Post #6
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  • Oct 17, 2011 3:40am Oct 17, 2011 3:40am
  •  mikkom
  • Joined Mar 2008 | Status: Still testing and trading | 1,537 Posts
Quoting EnPoint
Disliked
What rules define this indicator? I notice that it doesn't paint some pretty good pinbars.
Ignored
I actually don't remember anymore but the source code is included so take a look there.
 
 
  • Post #7
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  • Last Post: Oct 17, 2011 4:29am Oct 17, 2011 4:29am
  •  v_goranov
  • | Commercial Member | Joined Oct 2011 | 4 Posts
thanks for sharing, this is very profitable method using pin bar strategy
 
 
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