Pinbar scanner with RSI filter
- 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 pin bar is identified.
- Uses RSI as a trend filter in order to properly identify potential reversals.
- The indicator includes an interactive panel. Please see separate screenshot.
It is enough to place the indicator on one chart and you will receive an alert from any symbol and any time frame of your choice.
I recommend you to put the indicator on a EURUSD M5 chart, preferable a clean chart without any other indicators or Expert Advisors on it.
Please note that due to the multifunctionality neither buy/sell advice nor lines and arrows will be drawn on the chart.
- Amount of signals to show in the panel: Default is 15. But you can set it to more if it will fit on your chart. The signals will be shown in descending order, i.e. the latest signal first.
- Panel width: Default is 200. For instance, if you are using a non-standard font size in windows, you could set this to a larger value in order for the whole text to be visible.
- Template name: The template you put here will be applied to the chart which will be opened when you click on a signal in the panel. The name must include the file extension (.tpl).
- Minimum candle height in points: Makes it possible to filter out the smallest pin bars. 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 time frames. For this reason this setting will not be very useful if you are trading on all time frames.
- 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 60. 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 pin bar means that the pinbar must have another color then the previous bar and that the pin bar's high must be higher then the previous bar's high and finally that the pin bar's body must be within the range of the previous bar. With this setting set to False any pin bar will give a signal.
- Use candle midpoint logic (0=disabled): See screenshot below.
- Average body-size period (0 = any size): This can be used fo filter out small pin bars. The pin bar candle size must then be larger than the average candle size for the past xx candles.
- RSI overbougth and oversold levels: The pin bar must form above/below these levels in order to be valid.
- RSI Period: Default period is 10.
- 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.
- Time frames: Set to True for each time frame you would like to monitor.
- Alerts: Set to true for each alert type you would like to recieve.
- added an option to use candle midpoint logic
- It will now be possible to disable RSI filter
- Correction of real time alerts
- Added push alerts