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Bermaui Pin Bars

Bermaui Pin Bars

Or (BPB) is an indicator that find Pin Bars price action pattern on the chart. Pin Bars is a shortcut for "Pinocchio Bars" which is a classic bar pattern alternative to Japanese candlesticks with tall upper or lower shadows and very small bodies like Hammer, Inverted-Hammer, Hanging Man, Shooting Star, Dragon Fly Doji or Grave Stone Doji.

Bermaui Pin Bars indicator find this pattern depending on a formula that can be explained in the next steps:

  1. At first BPB calculate the center of the candles body ( = [Open + Close] / 2).
  2. Then BPB find the distance between the center of the body and the candle low.
  3. The last step is to divide step 2 results by the candle range.
  4. If the candle body center is too close to the high or the low of the candles, then BPB detect a Pin Bar pattern and alert the user.

I enhanced Bermaui Pin Bars functionality by adding:

  1. A Multi Time Frame Candles Direction Panel to tell you the situation of the current candle for all time-frames. Where Green dots mean that Close>Open, Red means Close<Open and Yellow means that Close=Open.
  2. Bermaui Bands to help you figure out if the current trend is bullish, bearish or neutral. You can read more about it from HERE.

Bermaui Pin Bars Features:

  • Draw Pin Bar patterns on the chart.
  • Help the user to identify the trend depending on MTF Candles Direction Panel plus Bermaui Bands.
  • A well designed color list with two options (Black / White Background).
  • Sound, email & mobile notifications depending on user's choice.

Bermaui Pin Bars most important parameters:

  • BPB Colors List. Switch between color lists (Black / White Background).
  • Candles [Min =2]: number of candles used in bands calculations. Default is 50.
  • Deviation Multiplier [>0]: this parameter will help you to control Bermaui Bands width or how much far the bands can be away from the center-line. Default is 2.1.

I hope Bermaui Pin Bars to be a good trading tool for you. If you have any question send me a message and I will answer as soon as I am online.

Muhammad Al Bermaui, CMT

Frank Paetsch
Frank Paetsch 2019.09.14 14:36 

Super, Danke

Guan Ting Liu
Guan Ting Liu 2019.09.03 09:25 

User didn't leave any comment to the rating

Firmin 2019.08.31 16:12 

Agian a very nice indicator.

4xplosion 2019.08.27 22:39 

Looking good so far!

Fxpro Trader Technical
Fxpro Trader Technical 2019.08.05 09:46 

Great indicator, better than all the others pin bars indicator i have had in the past, truly amazing work. A tool all serious trader must have. Thanks