Pinbar Detector Forex Indicator Free Download Pinbar Detector Forex Indicator Free Download

Pinbar Detector is a Forex MetaTrader indicator that attempts to detect Pinbars and flag them by placing "smiley" mt4 symbols below bullish pinbars and above bearish pinbars. It is a pure price action Forex indicator and does not use any standard technical Forex indicators in its code. The configuration of chart Pinbar detection can be done through the input parameters of the Forex indicator. Pinbar Detector can issue mt4 platform alerts and email alerts upon detection. Forex indicators are available for Forex MT4 and MT5 versions of the trading platform.

Input parameters

• CountBars (main default = 0) — maximum number of bars to detect pinbars. 0 = all.
• display distance (main default = 5) — distance from the candle to the pinbar "smiley" symbol.
• UseAlerts (main default = true) — tells the indicator to emit platform alerts with sound when Pinbar is detected.
• UseEmailAlerts (main default = false) — tells the indicator to send email alerts when Pinbar is detected. Email should be configured correctly in MetaTrader via Tools->Options->Email.
• Use notification alerts (main default = false) — tells the Forex indicator to send push notification alerts when Pinbar is detected. Notifications should be configured correctly in Forex MetaTrader via Tools->Options->Notifications.
• UseCustomSettings (main default = false) — tells the Forex indicator to use custom Pinbar detection parameters described below.
• Custom Max Nose Body Size (Main Default = 0.33) — The maximum body/length ratio allowed for the bridge of the nose.

• Custom Nose Body Position (Main Default = 0.4) — The body of the nose should be at the top of the bridge of the nose (the bottom of a bearish pattern).

• Custom left eye opposite direction (main default = true) — tells the Forex indicator that the left eye bar should be bearish for bullish chart pinbars and bullish for bearish pinbars.

• Custom Nose Same Direction (main default = true) — tells the Forex indicator that the nose column should be in the same direction as the pattern itself.

• Custom NoseBodyInsideLeftEyeBody (main default = false) — tells the Forex indicator that the nose body should be inside the left eye body.

• Custom LeftEyeMinBodySize (main default = 0.1) — The minimum size of the left eye body relative to the bar length.

• Custom Nose Protrusion (Main Default = 0.5) – The minimum amount of protrusion of the nose bridge relative to the length of the bridge.

• Custom NoseBody to LeftEyeBody (main default = 1) — The maximum size of the nose body relative to the left eye body.

• Custom nose length to left eye length (main default = 0) — Minimum nose length relative to left eye length.

• CustomLeftEyeDepth (main default = 0.2) — The minimum depth of the left eye relative to its length. Depth is the length of the bar section behind the nose.

• Customize minimum nose length (main default = 1) — Minimum nose candle length in points.

Indicator Example

As you can see in the mt4 chart above, Forex indicators are not perfect, nor is the chart Pinbar pattern itself. Try different detection indicator settings and filter the image according to the ideal pinbar pattern. You can use our basic Forex trading Pinbar strategy or you can try to develop your own strategy, depending on how aggressive your overall Forex trading style is. A good idea is to attach this forex indicator to the long-term timeframe (from H1 to W1) of all mt4 currency pairs that you are willing to trade. Then, alerts will let you know as soon as a Forex trading opportunity arises.

Pinbar Detector Forex Indicator Download

Pinbar Detector for MetaTrader 4

Pinbar detector for MetaTrader 5

Discussion

Warning! If you don't know how to set up this indicator, please read the MetaTrader Forex Indicators Tutorial.

Do you have any further suggestions or questions about this indicator? You can always discuss the Pinbar detector with other traders and MQL programmers on the indicator forum.