Pin Bar Trading - page 5

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Right now a pin bar is developing on eur/usd 4 hr chart.

this is how i will play this pin bar.

i will wait for the 4hr candle to close. Then go long as soon as the high of the pin bar gets broken to upside. That is the most conservative type of approach.

If you are a more risk tolerant trader then you can draw fib levels on pin bar. and enter long as soon as 50% or 61% fib level gets hit on pin bar.

Files:
gbp_usd_2.gif  12 kb
 

This is not a text book example of pin bar since there is a lower shadow. A true pin bar does not have a lower shadow in an uptrend

Files:
gbp_usd_3.gif  15 kb
 
$trader:
From everyones experience what are the best time frames for trading PinBar?

4hr, daily or weekly charts are the best

Has anyone used the Pin Bar Indicator posted on page two & what were your

results. After loading the indicator onto MT4 chart it seems to be picking the Pin Bars with fair accuracity.

When the Pin Bar is located @ the top of an up move would that indicate a short trade "could" be entered?

Pin Bar at top of uptrend is signal that market will go down. Pin Bar at bottom of downtrend is signal that market will go up

The opposite for a Pin Bar @ the bottom of a down move.

Just trying to understand the use of the indicator. Tks for any views & help.

$Trader

I hope this helps

 
iandekoker:
I hope this helps

Thank you very much for your charts and explaination......

 

Did anyone ever manage to create a reliable Pinbar detector? The ones on this thread are not reliable at all so far.

 

not all Pin bar

are all effective the problem is always to evaluate the pin Bar = pinocchio Nose so your trading is based on price patterns like double high low close

i like this when you find a Pin Bar an this works sure there is a reversal

you put your stop loss above the pin Bar and wait the price falling down

 
rod30:
are all effective the problem is always to evaluate the pin Bar = pinocchio Nose so your trading is based on price patterns like double high low close

i like this when you find a Pin Bar an this works sure there is a reversal

you put your stop loss above the pin Bar and wait the price falling down

DBHLC, BEOB and its friends are similar, the other friends that non-J16G mentioned is tweezers/railway track, which is called double pin bar, it's just the terms.

You don't need indicators to tell you that, just make sure you keep your eyes open, I have fun writing it and while doing that, I get used to on that, but unfortunately, it can't be traded alone, you need more confluences, which is the strongest ones IMO is Support and Resistance, but again unfortunately, this is a manual things to do.

My adventure drives me to a very short-term TF, which is 1-second, and I see PBs too but in all different meaning, it's all about interpretation, and someone else can just give examples, you need to understand it yourself and trigger it to know.

 

Mason

its ok discretionary system all traders in this forum will be glad to you about this thread, i know FF james i like your statistical approach how to evaluate pin bar thanks to share your Pin Bar pattern with us and i will open my eyes

 

Hi,

Anyone can post the "PBStat.mq4' file? I cannot open the exe file.

Thank you

 

Determining a pin bar

Hi guys,

The indicator that mason posted is that available any where? What is your criteria mason for a valid pin bar? It seems like you are using percentages and formulas to do your calculations. Please can you share this with me?

Thanks

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