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Pinbar scanner with RSI filter

Features

  • Can monitor all symbols visible in your Market Watch window 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.
  • Uses RSI as a trend filter in order to properly identify potential reversals.

You can place the indicator on for instance EURUSD M5 chart and receive an alert from any pair and any timeframe of your choice.

Please note that due to the multifunctionality this indicator is not supported in the strategy tester. For the same reason the pinbar formations will not automatically be drawn on the chart.


Parameters

  • Minimum candle height in points: Makes it possible to filter out the smallest pinbars. If you for instance trade M1 and M5, you could set it to 20 points. Please be aware though that this setting is valid for all timeframes. For this reason this setting will not be very useful if you are trading on all timeframes.
  • Minimum candle body size % (0 = any body size): The scanner will filter out dojis by default. Recommended setting is 0. But if you would like a larger body, you can set a higher value.
  • Minimum percent for tail: Default is 50. If you would like a larger tail you can set it to for instance 70. It will give fewer signals but higher quality.
  • Only strict pinbars?: True or false. A strict pinbar means that the pinbar must have another color then the previous bar and that the pinbar's high must be higher then the previous bar's high and finally that the pinbar's body must be within the range of the previous bar. With this setting set to False any pinbar will give a signal.
  • RSI overbougth and oversold levels: Pinbar must form above/below these levels in order to be valid.
  • RSI Period: Default period is 14.
  • RSI apply to price: RSI level is calculated from this setting.
  • Disable RSI?: Set to True if you would like to disable the RSI filter.
  • Symbols to scan: Here you will put all symbols you would like to monitor. Every symbol must be put in the exact way as it is visible in the Market Watch window and separated with a comma. If you put a symbol not visible in the Market Watch window, that symbol will not be scanned.
  • Timeframes: Set to True for each timeframe you would like to monitor.
  • Alerts: Set to true for each alert type you would like to recieve.
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Version 1.2 - 2017.07.03
- changed setting of minimum candle body size from points to percentage
Version 1.1 - 2017.05.19
- It will now be possible to select if to show only strict pinbars
- It will now be possible to disable RSI filter
- Correction of real time alerts
- Added push alerts