Pinbar Scanner With Trend Filter
VERY IMPORTANT, PLEASE NOTE:
This indicator has been created by a former hedge-fund employee.
And it is based on solid, widely followed market principles and dynamics.
Our company has been selling high quality indicators on this platform for over 3 years.
And we have had thousands of satisfied clients and hundreds of 5 star reviews.
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And How To Use It:
This indicator has been designed to automatically identify high probability pinbar formations.
It includes an RSI trend-filter for finding the best reversal formations and it will send you an alert when these setups are found.
Remember: A strong pinbar is clear evidence that the institutions are rejecting a particular price level.
These price levels are excellent areas to determine potential entries and exits.
And these price levels also provide the opportunity to use excellent risk and reward ratios.
See the images below for further details and contact us if you have any questions.
We are always here to help. =)
- The indicator includes an RSI trend filter, to identify the best possible pinbars.
- The indicator will trigger an alert whenever your desired pattern is found.
- The indicator will simultaneously monitor any pairs and any time frames that you choose.
- Can monitor any symbol that is offered in your Metatrader platform. Including crypto, commodities, indices, equities, ETF's etc.
This indicator only needs to be placed on one chart and it will simultaneously monitor the entire market, all on one screen.
This will save you an enormous amount of time and effort. As you won't have to flip through dozens of charts for your analysis.
And you can choose to monitor as few (or as many) pairs as you wish.
- RSI Period: Setting for RSI filter
- RSI Up Level: Overbought level for RSI filter. Pinbar must form above this level in order to be valid.
- RSI Down Level: Oversold level for RSI filter. Pinbar must form below this level in order to be valid.
- Pinbar Percent: This is the maximum allowed body / length ratio. The smaller the percentage you choose, the smaller the body of the candle.
- If you select '5', this means that the body of the candle can only be a maximum of 5% (1 / 20th) of the entire candle.
- If you select '10', this means that the body of the candle can only be a maximum of 10% (1 / 10th) of the entire candle.
- If you select '25', this means that the body of the candle can only be a maximum of 25% (1 / 4th) of the entire candle.
The smaller the number you choose, the more dramatic the pinbar must be.
- Symbols: Here is where you select which pairs to monitor. The indicator monitors 28 pairs by default, but you can select less pairs if you wish.
- Alert on M1: True = Yes, False = No
- Alert on M5: True = Yes, False = No
- Alert on M15: True = Yes, False = No
- Alert on M30: True = Yes, False = No
- Alert on H1: True = Yes, False = No
- Alert on H4: True = Yes, False = No
- Alert on D1: True = Yes, False = No
- Alert on W1: True = Yes, False = No
- Alert on MN1: True = Yes, False = No