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Pinbar Scanner For Multi Pair And Multi Time Frame

This indicator has been created by a former hedge-fund employee and it automatically identifies high-probability pin-bar 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.

  • See the screenshots below for further details and contact us if you have any questions. We are always happy to help.
  • Please be aware that we have been selling the MT4 version of this indicator for over a year and you can check the reviews/comments here: https://www.mql5.com/en/market/product/13575
  • Also make sure to watch our short video. As it includes the top-10 hedge-fund trading rules, that every trader should know.


Features

  • Monitors all 28 pairs at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
  • Monitors every timeframe, from M1 to MN, and sends you a real-time alert when a Pinbar is identified.
  • Real-time alerts when a strong pin-bar is identified.
  • Uses RSI as a trend filter, in order to properly identify potential trend reversals.


Parameters

  • 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.

For example:

  • 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 the top 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
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