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  • #1
  • First Post: Edited Jul 16, 2025 4:04am Jul 15, 2025 12:30pm | Edited Jul 16, 2025 4:04am
Another experiment. We all have a number of strategies. And we see every day - at the end of day, that if we had chosen to trade some pairs, our strategy had made us smiling and other pairs we are not happy. So the secret must be to be able to chose the right pairs to trade.

This thread shall try so find some signals that lead our attention to an instrument which might be trending the next trading day.

I will build an indicator that give those signals. I have started. Right now it can give signals when these condition occurs:

  1. A Fakey.
  2. An Engulfing bar.
  3. A Pinbar. See Post #3.

Much more to come. So this will be a multi signal indicator.

Of cause those signals are no garantee for anything. But if we get a signal that an instrument just had a Pinbar, we can investigate if this could be a continuing signal for another go on a trend. Just an example. This way we might be able better to chose the right instruments to trade.

I will search those signals on some higher timeframe and then trade a lower timeframe. Your way of trading it might be different.


I will update this post #1 whenever there come new functions in the indicator.

I hope that a number of traders will be active in testing the signals and suggest how to use then with confluences. I hope also to get ideas from you guys to new signals to the indicator. If you are interested in helping, then subscribe to this thread.

The signals mentioned above is in test right now. Something will be released tomorrow.

Important: The indicator does not measure old signals. This means, that the indicator must be present at the chart at bar close. Only in the split of a second when the bar closes, the indicator will get a signal.
This is not the normal behavior of an indicator, but that is how I work.

MetaTrader 4 - so many advantages.
  • #2
  • Jul 15, 2025 2:38pm Jul 15, 2025 2:38pm
Looking forward to it!
Thanks
  • #3
  • Edited 4:05am Jul 16, 2025 3:27am | Edited 4:05am
OK. This is first version. It contains Pinbars, Engulfing and Fakey Pattern. But I have blinded the 2 latter in order to not confusing people with too much in the beginning.

I prefer to call it LongWicks, because it doesn't matter if it is a Pinbar, Hammer or whatever, when just it has the long wick. So from now on in this thread it is not a Pinbar - it is a LongWick bar.

Trading rules as in Swing Trades using Price Action | Forex Factory by pt49.

In short:
The long wick must be at least ⅔ of total candle length.
If the long wick is below the body then its going to be a buy trade and if the long wick is on top of the candle then it's going to be a sell trade.
The Long Wick must intercept the Moving average.
Barsize must be larger than the ATR(14) value.

These rules are coded into the indicator and you will get an alert whenever they are filled. There will be an arrow on the chart showing the trade direction.

Start by having the indicator on 28 Forexpairs on the M5. Just to get the feeling of the signals. But I never trade less than M15.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 7 KB


Set the MAvalue to the Moving Average that you prefer to use. pt49 uses 8EMA.

Remember: Allways trade only when there is a slope on the EMA. Best is it to trade the continuation of a trend.

I will now trade this strategy on a 1 hour TF on all Forex pairs. I will show the trades when I take them.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
Attached File(s)
File Type: ex4 RF_Signalling_1.ex4   14 KB | 548 downloads
MetaTrader 4 - so many advantages.
  • #4
  • Edited 6:32am Jul 16, 2025 4:31am | Edited 6:32am
Attached Image (click to enlarge)
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EDIT: My first trade was a loss. I can see, that the setup was not correct. It has been ranging all day. Not trending. So my own fault. Disciplin!!!!!
MetaTrader 4 - so many advantages.
  • #5
  • Jul 16, 2025 5:24am Jul 16, 2025 5:24am
These are my indicator settings but I didn't get any signal, I wonder why I checked on several timeframes and currency pairs.
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  • #6
  • Jul 16, 2025 5:35am Jul 16, 2025 5:35am
[idézet=kapulet;15312425]Ezek az indikátorbeállításaim, de nem kaptam semmilyen jelet, vajon miért ellenőriztem több idősíkot és devizapárt is. {image}[/idézet]
Here is the sign! (Red circle)
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  • #7
  • Jul 16, 2025 6:26am Jul 16, 2025 6:26am
Quoting kapulet
These are my indicator settings but I didn't get any signal, I wonder why I checked on several timeframes and currency pairs. {image}
Hi

You need to understand this text from Post #1: Important: The indicator does not measure old signals. This means, that the indicator must be present at the chart at bar close. Only in the split of a second when the bar closes, the indicator will get a signal.

This means, that you cannot shop around timeframes as you normally can do with an indicator. You must decide which timeframe you want to trade and then keep the charts on that timeframe - especially at the time for next bar.

I have made a setup where I have 28 charts ongoing. All on timeframe H1. I will get a number of trades during a day. But disciplin is needed. This is not made for fun - it is real trading. Quite boring to be frank. But if the system works, then this is money in the pocket and it is not always fun to make money.

This is my screen. I use a Prop account for the trading. Of cause microlots for now.
Attached Image (click to enlarge)
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MetaTrader 4 - so many advantages.
  • #8
  • Jul 16, 2025 6:42am Jul 16, 2025 6:42am
Quoting RiskFighter
{image} EDIT: My first trade was a loss. I can see, that the setup was not correct. It has been ranging all day. Not trending. So my own fault. Disciplin!!!!!
I think your stop was too tight
Market structure shows a downtrend with LH and LL
the cautious seldom err....C
  • #9
  • Jul 16, 2025 6:48am Jul 16, 2025 6:48am
Quoting pips29
{quote} I think your stop was too tight Market structure shows a downtrend with LH and LL
Yes you are very right. I placed the SL according to the rules of pt49, which say right on top of the signal bar. It was too tight and I think the trade is coming now.
MetaTrader 4 - so many advantages.
  • #10
  • Jul 16, 2025 6:52am Jul 16, 2025 6:52am
Quoting RiskFighter
{quote} Hi You need to understand this text from Post #1: Important: The indicator does not measure old signals. This means, that the indicator must be present at the chart at bar close. Only in the split of a second when the bar closes, the indicator will get a signal. This means, that you cannot shop around timeframes as you normally can do with an indicator. You must decide which timeframe you want to trade and then keep the charts on that timeframe - especially at the time for next bar. I have made a setup where I have 28 charts ongoing. All...
Ok I understand.
  • #11
  • Jul 16, 2025 7:00am Jul 16, 2025 7:00am
This is the Fakey Pattern. Mean Fake Pattern.

Look at the Bullish setup:

2nd bar is an inside bar compared to 1st bar. This tells that investors don't know what they want.

3rd bar is a direction bar that show price action are going South.

4th bar kept direction South. Low of the bar is lower than low on the 2nd bar. But then it goes up, and the bar close higher than the 1st bar.

So first uncertaincy, Then direction South and then change of mind and going North. The theory says, that direction will now continue in the North direction.

Next version of the indicator is ready with this function.

The Engulfing function is also ready. I just need to know, that people have tried the indicator and can use it, before I release more functionallity.

And more PA signals will come. This way, you can have a number of your favorit instruments on the screen and get a variaty of signals keeping you busy at chosing when to trade and when not to trade.
Attached Image (click to enlarge)
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MetaTrader 4 - so many advantages.
  • #12
  • Jul 16, 2025 7:07am Jul 16, 2025 7:07am
More to the trade I made in Post #4.

I have now added two of my favorite confluences to the chart.

Stochastics should have been below 30 for a short trade and CCI bars should have been red.

So I should not have taken that trade.
Attached Image (click to enlarge)
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MetaTrader 4 - so many advantages.
  • #13
  • Jul 16, 2025 7:11am Jul 16, 2025 7:11am
Quoting RiskFighter
This is the Fakey Pattern. Mean Fake Pattern. Look at the Bullish setup: 2nd bar is an inside bar compared to 1st bar. This tells that investors don't know what they want. 3rd bar is a direction bar that show price action are going South. 4th bar kept direction South. Low of the bar is lower than low on the 2nd bar. But then it goes up, and the bar close higher than the 1st bar. So first uncertaincy, Then direction South and then change of mind and going North. The theory says, that direction will now continue in the North direction. Next version...
this might help you. If not just chuck it away
Attached File(s)
File Type: pdf trade-fake-pin-bars.pdf   218 KB | 728 downloads
the cautious seldom err....C
  • #14
  • Jul 16, 2025 7:21am Jul 16, 2025 7:21am
Quoting pips29
{quote} this might help you. If not just chuck it away {image}
Nice. Thank you. It is very useable!!
MetaTrader 4 - so many advantages.
  • #15
  • Jul 16, 2025 7:22am Jul 16, 2025 7:22am
Quoting pips29
{quote} this might help you. If not just chuck it away {image}
Nice to have you on board by the way.
MetaTrader 4 - so many advantages.
  • #16
  • Jul 16, 2025 7:27am Jul 16, 2025 7:27am
By the way, I made a little trade manager last week. Maybe somebody would like it.
See the function and downloads here in post #2: MT4 tools | Forex Factory
MetaTrader 4 - so many advantages.
  • #17
  • Jul 16, 2025 8:43am Jul 16, 2025 8:43am
I tried a XAUUSD trade on M15 with the pin bar indicator. Here is the result:
Attached Image (click to enlarge)
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  • #18
  • Jul 16, 2025 9:01am Jul 16, 2025 9:01am
PC problems. Did not get these.
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MetaTrader 4 - so many advantages.
  • #19
  • Jul 16, 2025 10:01am Jul 16, 2025 10:01am
Gentle sir, I am following your same strategy only with pin candles and only on H4 or H1 because in this TF we can have strong signals. I do use EMA 8 and 13. Give a look to my screenshot. No other indicator needs. I will be your fan.
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  • #20
  • Jul 16, 2025 12:03pm Jul 16, 2025 12:03pm
Very good signal US30 on M5 as example.
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