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2016.02.08 11:11
Pinbar Detector

Pinbar Detector - indicator for MetaTrader 4

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votes: 14

Real author:

Daniel Fernandez


The Pinbar Detector tries to identify the pin bars and ,arks them with "smileys" below the bullish and above the bearish figures. This indicator uses only the price levels in its calculations, without any standard technical indicators. The configuration of pin bars determination can be changed by means of input parameters. Pinbar Detector can generate notification about the detection of pin bars both inside the platform and by e-mail.

Input Parameters:

  • UseAlerts (default = true) — generate a sound alert when a pin bar is found.
  • UseEmailAlerts (default = false) — send an e-mail when a pin bar is found. E-mail must pre-configured in the MetaTrader in Tools > Options > E-mail.
  • UseCustomSettings (default = false) — use custom parameters below to detect pin bars.
  • CustomMaxNoseBodySize (default = 0.33) — the maximum allowed ratio of the body of the "nose" of the bar to its total length.
  • CustomNoseBodyPosition (default = 0.4) — the extreme position of the body of the "nose" inside the bar. The upper part - for the bullish figure, the bottom - for the bearish.
  • CustomLeftEyeOppositeDirection (default = true) — the "left eye" must be bearish for a bullish pin bar and bullish for a bearish pin bar.
  • CustomNoseSameDirection (default = true) — the "nose" must be the same direction as the figure itself.
  • CustomNoseBodyInsideLeftEyeBody (default = false) — the body of the "nose" must be inside the body of the "left eye".
  • CustomLeftEyeMinBodySize (default = 0.1) — the minimum size of the "left eye" body relative to the bar length.
  • CustomNoseProtruding (default = 0.5) — the minimum projection of the "nose" relative to the length of the bar.
  • CustomNoseBodyToLeftEyeBody (default = 1) — the maximum size of the body of the "nose" relative to the "left eye" body.
  • CustomNoseLengthToLeftEyeLength (default = 0) — the minimum length of the "nose" relative to the "left eye".
  • CustomLeftEyeDepth (default = 0.2) — the minimum depth of the "left eye" relative to its length. Depth — length of the part of bar beyond Nose


Translated from Russian by MetaQuotes Software Corp.
Original code:

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