PinBar Candle Detector Price Action Filter Signals
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PINBAR MULTI-FILTER SIGNALS MT5
No-Repaint Price Action Arrows with 17 Optional Confirmations
► Non-repaint pin bar detector for MetaTrader 5. Buy and sell arrows print on closed candles only. Optional trend, momentum, and level filters can block a pin before an alert is sent.
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PRODUCT TYPE
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• Type : MT5 technical indicator (NOT an Expert Advisor)
• Function : Marks pin-bar rejections and can alert you. It does not open or manage trades
• Display : Aqua BUY arrow under the low • Red SELL arrow above the high
• Version : 1.20
• Markets : Forex, gold, indices, crypto, commodities, stocks — any MT5 symbol
• Timeframes : All. Structure is usually cleaner from M15 upward
• Alerts : Popup • Sound • Push • Email
• Dependencies : Built-in MT5 indicators only. No DLL
This is a signal tool. It does not promise profit and it does not replace a trading plan.
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WHAT IT DOES
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A PIN BAR is a rejection candle: small body, long wick on one side. Price was pushed in one direction and forced back.
Working order:
1. Read each CLOSED candle.
2. Measure body, upper wick, and lower wick.
3. Classify: bullish pin, bearish pin, or ignore.
4. Test every filter you enabled.
5. Plot an arrow only when the pin AND all enabled filters agree.
6. Optionally alert on that closed bar.
► BUY pin : Close > Open • long LOWER wick • short upper wick
► SELL pin : Close < Open • long UPPER wick • short lower wick
Default geometry:
• Long wick >= PinBarRatio x short wick (default 2.0)
• Long wick >= BodyRatio x body (default 1.0)
Stricter than “any candle with a wick,” so noise drops before filters run.
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WHY IT IS USEFUL
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Most pin-bar tools stop at candle shape. This one treats the pin as the TRIGGER and the rest of the market as CONTEXT.
► Closed-bar design — the forming candle is not given a final arrow. Alerts lock to the just-closed bar so one candle does not spam you.
► Modular filters — every filter starts OFF. Switch on only the rules you actually use.
► AND logic — if three filters are on, all three must pass. Do not enable everything at once.
► Seventeen layers — trend (MA, Double MA, Ichimoku Span B, SAR), momentum (RSI, ADX, AO, MACD, RVI, CCI), location (SR and Fibonacci 38.2–61.8).
► Clean chart — only arrows are drawn. Attach RSI or Ichimoku yourself if you want to see them.
► Building block — scanner, confluence check, or a written rule set before you code an EA.
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KEY FEATURES
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• Non-repainting BUY / SELL arrows on closed candles
• Adjustable wick ratio, body ratio, and arrow offset
• RSI Cross • RSI 75 mid-line • ADX strength
• Single MA • Double MA alignment • Ichimoku Senkou Span B
• Awesome Oscillator level / slope / zero-line
• Parabolic SAR • internal Heiken Ashi color
• CCI zero-line • CCI extreme
• RVI zero-line • RVI signal-line
• MACD histogram • MACD zero-line
• Support/resistance zone • Fibonacci 38.2 / 61.8 from swings
• Popup, sound, push, and email
• Handles created only for filters you enable
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CORE ENGINE
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The pin-bar engine is ALWAYS on. Filters never create a signal alone.
BUY
Close > Open
AND lower wick >= PinBarRatio * upper wick
AND lower wick >= BodyRatio * body
SELL
Close < Open
AND upper wick >= PinBarRatio * lower wick
AND upper wick >= BodyRatio * body
• BUY arrow under the low, offset by ArrowDistance points
• SELL arrow above the high, offset by ArrowDistance points
Plot codes: 233 buy • 234 sell
Final rule:
Show BUY only if pinBuy AND all enabled buy filters pass
Show SELL only if pinSell AND all enabled sell filters pass
One failed filter blocks that side. That is intentional.
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FILTER BENEFITS
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► RSI CROSS — pins as RSI LEAVES an extreme.
Buy: RSI now above Oversold and was at/below it previously.
Sell: RSI now below Overbought and was at/above it previously.
► RSI 75 — slow regime. Buy if RSI75 > 50 • Sell if RSI75 < 50.
► ADX — does NOT choose direction. Both sides need ADX >= ADX_Min_Level (default 20). Skips dead ranges.
► SINGLE MA — buy if close > MA • sell if close < MA.
► DOUBLE MA — buy if fast A > slow B • sell if A < B.
► ICHIMOKU SPAN B — buy if close > Senkou B • sell if close < Senkou B.
Handle: iIchimoku(9, Ichimoku_Kijun, Ichimoku_SenkouB).
► AWESOME OSCILLATOR — optional AND tests:
Level: AO >= AO_Buy_Min / AO <= AO_Sell_Max
Slope: rising for buys, falling for sells
Zero: rising and > 0 for buys, falling and < 0 for sells
Recalibrate per symbol. Defaults 4.0 / -4.0 are examples, not gold/index constants.
► PARABOLIC SAR — buy if close > SAR • sell if close < SAR.
► HEIKEN ASHI — internal HA from chart OHLC. Buy if HA close > HA open • sell if HA close < HA open.
► CCI TREND — buy if CCI > 0 • sell if CCI < 0.
► CCI OB/OS — as coded: buy if CCI ABOVE overbought • sell if CCI BELOW oversold.
Momentum-extreme reading, not the classic fade. Enable only if that is your rule.
► RVI TREND — buy if RVI > 0 • sell if RVI < 0.
► RVI SIGNAL — buy if main > signal • sell if main < signal.
► MACD HISTOGRAM — buy if (MACD − Signal) > 0 • sell if < 0.
► MACD LEVEL 0 — buy if MACD main > 0 • sell if < 0.
► SUPPORT / RESISTANCE — look back SR_Period bars, find local low/high, test SR_Zone_Points.
Buy needs a support touch • Sell needs a resistance touch.
► FIBONACCI — swing high/low via Depth / Deviation / Backstep, zone between 0.382 and 0.618.
Pin must overlap the zone. If swings are missing, both sides are blocked.
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HOW TO USE IT
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Do NOT enable every filter. AND logic will starve the chart. Two or three matching filters beat seventeen random ones.
Workflow
1. Attach with ALL Use_* filters false.
2. Study raw pin quality on YOUR symbol and timeframe.
3. Add ONE bias filter (MA, Double MA, Span B, or SAR).
4. Add ONE momentum filter if needed (MACD, RVI, AO, or RSI 75).
5. Add ONE location filter if you trade levels (SR or Fibonacci).
6. Only then turn on alerts.
Starting profiles
• Raw price action H1 / H4 -> filters off, or SR only
• Trend pullback H1 / H4 -> Double MA + MACD histogram
• Level rejection M15 / H1 -> SR or Fib + RSI Cross
• Momentum continuation M15 / H1 -> MA + AO or MACD zero
• Conservative swing H4 / D1 -> ADX + Span B + RSI 75
Starting points only. Check signal count after each change.
Management is NOT built in:
• Stop beyond the wick plus a spread buffer
• A bullish pin that later closes beyond its low is usually invalid
• Target the opposite range side or your own R-multiple
• M1 / M5 = more pins and more noise — tighten ratios or add a trend filter
POINT-BASED INPUTS
ArrowDistance, SR_Zone_Points, ZigZag_Deviation, and AO levels use POINTS.
Gold, indices, and crypto need LARGER values than 5-digit FX. If arrows sit on the wick, raise ArrowDistance. If SR never fires, widen the zone.
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INSTALLATION
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1. Install from MQL5 Market or copy the EX5 into MQL5 / Indicators.
2. Restart MT5 or refresh Navigator.
3. Drop onto a chart. Leave filters false first.
4. Confirm arrows appear only AFTER a candle closes.
5. Enable the alert channels you use, then add filters one at a time.
Push -> MetaQuotes ID in Tools > Options > Notifications
Email -> SMTP in Tools > Options > Email
Sound -> WAV name in the terminal Sounds folder (name only)
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INPUT REFERENCE
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PIN BAR
• PinBarRatio (2.0) — long wick vs short wick. 2.5–3.0 stricter • 1.2–1.8 more signals
• BodyRatio (1.0) — long wick vs body. Raise if bodies look too large
• ArrowDistance (80) — offset in points. Increase on XAUUSD, US30, NAS100, crypto
ALERTS
• EnablePopupAlert (true)
• EnableSound (true) • SoundFile (alert2.wav)
• EnablePushNotification (true)
• EnableEmailAlert (false) — subject: PinBar Signal
Text: BUY/SELL PinBar (Closed) SYMBOL PERIOD
RSI CROSS
• Use_RSI_Cross_Filter (false) • RSI_Length (14) • RSI_Price_Source (PRICE_CLOSE)
• Oversold (30.0) • Overbought (70.0)
ADX
• Use_ADX_Filter (false) • ADX_Period (10) • ADX_Min_Level (20.0) for BOTH sides
SINGLE MA
• Use_MA_Filter (false) • MA_Period (50) • MA_Method (MODE_SMA) • MA_Shift (0)
Rule: close > MA buy side • close < MA sell side
ICHIMOKU SPAN B
• Use_Ichimoku_Filter (false) • Ichimoku_SenkouB (52) • Ichimoku_Kijun (26)
Rule: close > Span B buy side • close < Span B sell side
RSI 75
• Use_RSI75_Filter (false) • RSI_Filter_Period (75)
Rule: > 50 buy side • < 50 sell side
DOUBLE MA
• Use_DoubleMA_Filter (false)
• MA A: 30 EMA close shift 0 • MA B: 140 EMA close shift 0
Rule: A > B buy side • A < B sell side
AWESOME OSCILLATOR
• Use_AO_Filter (false) master
• Use_AO_Volume_Filter (false) + AO_Buy_Min (4.0) + AO_Sell_Max (-4.0)
• Use_AO_Color_Filter (false) • Use_AO_Zero_Filter (false)
Sub-filters use AND.
PARABOLIC SAR
• Use_SAR_Filter (false) • SAR_Step (0.02) • SAR_Maximum (0.2)
Rule: close > SAR buy side • close < SAR sell side
HEIKEN ASHI
• Use_HeikenAshi_Filter (false) — internal HA, no extra period
CCI TREND
• Use_CCI_Filter (false) • CCI_Period (50) • CCI_Applied (PRICE_CLOSE)
Rule: CCI > 0 buy side • CCI < 0 sell side
CCI OB / OS
• Use_CCI_OBOS_Filter (false) • CCI_OBOS_Period (14) • CCI_OBOS_Applied (PRICE_CLOSE)
• CCI_Overbought (100.0) buy above • CCI_Oversold (-100.0) sell below
RVI TREND
• Use_RVI_Filter (false) • RVI_Period (75)
Rule: RVI > 0 buy side • RVI < 0 sell side
RVI SIGNAL
• Use_RVI_Signal_Filter (false) • RVI_Signal_Period (20)
Rule: main > signal buy side • main < signal sell side
MACD HISTOGRAM
• Use_MACD_Filter (false)
• MACD_FastEMA (12) • MACD_SlowEMA (26) • MACD_SignalSMA (9) • MACD_Applied (PRICE_CLOSE)
Rule: histogram > 0 buy side • < 0 sell side
MACD LEVEL 0
• Use_MACD_Zero_Filter (false) — same MACD handle
Rule: MACD main > 0 buy side • < 0 sell side
SUPPORT / RESISTANCE
• Use_SR_Filter (false) • SR_Period (50) • SR_Zone_Points (80)
Buy = support zone • Sell = resistance zone
FIBONACCI
• Use_Fib_Filter (false) • Fib_Level_1 (0.382) • Fib_Level_2 (0.618)
• ZigZag_Depth (12) • ZigZag_Deviation (5 points) • ZigZag_Backstep (3)
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NO-REPAINT NOTES
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Built to do:
• Forming candle is not given a final arrow
• History is written on completed bars
• Live alerts lock to the just-closed bar by time
Does NOT mean:
• Every arrow is profitable
• Reloading with new inputs cannot change which old bars qualify
• Fib / SR stay identical if you change Depth or Period
Confirm in visual tester mode and on a demo chart.
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COMPATIBILITY
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MT5 chart-window indicator • 2 buffers • EMPTY_VALUE = no arrow
Uses iRSI, iADX, iMA, iIchimoku, iAO, iSAR, iCCI, iRVI, iMACD
Works on hedging or netting accounts (it does not trade)
Visible in tester visual mode — no monetary report, because this is not an EA
One instance per chart • low load with few filters
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WHO IT IS FOR
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FOR: price-action traders, discretionary confluence, systematic rule-building, mobile push on a CLOSED pin.
NOT FOR: auto-trading robots, guaranteed win rates, or “every filter on” and a signal every hour.
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EXAMPLE SETTINGS
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• FX majors H1, first week — ratios default, all filters false
• XAUUSD M15/H1 — ArrowDistance 300–800 • SR_Zone_Points 200–500 • retune AO
• Indices — raise ArrowDistance until clear of the wick • prefer H1/H4
• Crypto — start filters off, then Double MA or MACD zero • larger ZigZag deviation
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SHORT FAQ
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Q: Does this open trades?
A: No. It only marks and alerts.
Q: Almost no arrows?
A: Too many filters, ratios too strict, or SR/Fib not touched. Turn filters off until arrows return, then add context back.
Q: Too many arrows?
A: Low timeframe with filters off, or soft ratios. Raise PinBarRatio toward 2.5–3.0 and add one trend filter.
Q: Several filters together?
A: Yes. AND logic. Two or three is usually enough.
Q: Fib stays silent?
A: Swings were not found. Loosen Depth or turn Fib off.
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DISCLAIMER
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Trading involves risk of loss. Past patterns do not guarantee future results. This tool detects candle geometry and optional technical conditions. It is not investment advice and it does not place orders. Test on demo. Size positions you can afford to lose.
Thank you for using PinBar Multi-Filter Signals MT5.
Keep the filters simple, and let the closed candle do the talking.
