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Pin Bar Expert

The Expert Advisor trades according to Pin Bar pattern in Instant Execution mode (not for ECN) on H4-D1 charts. The EA has two different trailing stops – by points and extremums, as well as two stop loss types – fixed and dynamic. Dynamic stop loss is placed at the candle's High or Low depending on the pattern direction.

Trailing stop: first, trailing operates by points up to the TrailingStop distance specified in points. After passing the distance, trailing by previous Hi-Lows of bars is enabled. Trailing by the previous bars' Hi-Low searches for extreme values on a specified period and number of bars. Stop loss is placed on an extremum plus/minus n points (depending on the direction) set in the EA parameters.

Recommended currency pairs for the EA operation: EURUSD, USDJPY, GBPUSD, USDCHF, EURJPY, USDCAD and AUDUSD. VPS server is required.

General Settings

  • Com – a comment to trades;
  • BalanceRisk – calculate trading lot using the balance/free margin;
  • Lots – fixed lot if BalanceRisk = 0;
  • TakeProfit – take profit level in points;
  • StopLoss – stop loss level in points if DynamicSLPinBar = false;
  • MaxOpenTrades – maximum number of open trades at a time;
  • SpreadControl – maximum spread;
  • Magic – magic number;
  • ShowInfo – show/hide info;
  • TextColor – displayed data color.

AntiRequotes Function Settings

  • MaxAttempts – maximum number of attempts to open an order;
  • DelaySeconds – pause between the attempts to open an order;
  • Slippage – maximum price slippage.

Breakeven Function Settings

  • Breakeven – enable/disable the function for moving trades to breakeven;
  • StartBreakeven – number of points profitably passed by the price to move positions to breakeven;
  • StepBreakeven – distance in points to place the breakeven level the first time.

Trailing Stop Settings by Points

  • Trailing – toggle Trailing Stops function by points;
  • TrailingStart – minimum number of points passed from the order open price for the trailing;
  • TrailingStop – number of points to start trailing stop;
  • TrailingStep – trailing stop step.

Trailing Stop Settings by Extremums

Depending on the parameters, the EA searches for High/Low price for n bars to place a stop loss (trailing).

  • TrailingHiLow – toggle trailing stop function by extremums;
  • TimeFrame – period to search for high/low price;
  • BarCount – number of bars to search for extremums;
  • IndentHiLow – distance from High/Low price in points for placing a stop loss.

Pin Bar Settings

  • DynamicSLPinBar – toggle dynamic stop loss;
  • IndentDynamicSL – distance from an extremum for the dynamic stop loss in points;
  • NoseMinSize – minimum nose size of the Pin Bar, in points;
  • BodyMinSize – minimum body size of the Pin Bar;
  • BodySizeRatio – maximum body/nose ratio of the Pin Bar;
  • ShadowSizeRatio – maximum shadow/nose ratio of the Pin Bar;
  • UPPinBar – bullish pattern color on the price chart;
  • DNPinBar – bearish pattern color on the price chart.
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