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Pinbar indicator

  • #1
  • First Post: Edited 2:35pm Mar 29, 2009 2:11pm | Edited 2:35pm
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,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pinbar.gif Size: 16 KB
Click to Enlarge Name: pinbar2.gif Size: 17 KB
Click to Enlarge Name: pinbar3.gif Size: 19 KB
Attached File(s)
File Type: mq4 mikko_pinbar.mq4   3 KB | 4,207 downloads
  • #2
  • Apr 9, 2009 12:24pm Apr 9, 2009 12:24pm
Quoting mikkom
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,
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
  • #3
  • Apr 9, 2009 12:51pm Apr 9, 2009 12:51pm
Quoting vulture
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.
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.
  • #4
  • May 21, 2009 5:16pm May 21, 2009 5:16pm
excellent "personal take" on a PB, mikkom.
  • #5
  • Oct 14, 2011 1:34pm Oct 14, 2011 1:34pm
What rules define this indicator? I notice that it doesn't paint some pretty good pinbars.
  • #6
  • Oct 17, 2011 2:40am Oct 17, 2011 2:40am
Quoting EnPoint
What rules define this indicator? I notice that it doesn't paint some pretty good pinbars.
I actually don't remember anymore but the source code is included so take a look there.
  • #7
  • Last Post: Oct 17, 2011 3:29am Oct 17, 2011 3:29am
thanks for sharing, this is very profitable method using pin bar strategy
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