Pin Bar Trading - page 6

[tampa]

Pin bar detector (compatible with new mt4)

pinbardetector.mq4

[Wang Qi]

How to you measure the absolute length of the wick and the body?

I know that pin bar is defined by the relative length of wick and body. But without the limitation of absolute length, sometimes a pin bar will be meaningless. For example, if we define the length ratio of wick and body is 2:1, then a pin bar with 10 pips body and 30 pips wick is perfect, but a pin bar with 1 pip body and 3 pips wick is not a meaningful pin bar, though the length ratio is same as previous pin bar.

[techmac]

If you change time frames or symbols, you shall see tha the avosulte length vary from time frame to time frame and from symbol to symbol. That is why relative ratios are used

[Marius Ovidiu Sunzuiana]

 And how would you detect a hammer in mql4.. ? :)