Attachments: Pinbar indicator

Pinbar indicator

Post #1
Quote
First Post: Edited at 3:35pm Mar 29, 2009 3:11pm | Edited at 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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Attached File

mikko_pinbar.mq4 3 KB | 3,700 downloads

Post #2
Quote
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.