Welcome the Bermaui Pin Bars Indicator (BPB)

BPB is a unique combination between the famous price action Pin Bars pattern, Bermaui Bands and a Multi Time Frame Candle Direction Panel, but this is not everything.

Now, for all our happy customers who leave a good review and five stars you can have BPB Tools Kit that contain:

1. BPB Average EA.
2. Bermaui Q Stick Indicator.

By skilling the use of the three tools I ensure you that you can beat the market hard. and make the money you ever dreamed off.

Steps to have the BPB Tools Kit:

1. Buy BPB from the market. Here is the product link: https://www.mql5.com/en/market/product/40945
2. Add your review in the reviews section as a happy customer plus five stars. Here: https://www.mql5.com/en/market/product/40945#!tab=reviews
3. I will send you EA copy as a private message.

About BPB Average EA:

1. The main purpose of the EA is to validate the concept of trading with BPB through system tester.
2. To be used for trading if the user doesn't have enough time.
3. The EA depends on grid concept it can achieve success through a wide range of different parameters, and this limit the danger of curve fitting.
4. BPB Average EA can calculate your position size as percent from account balance. This feature will help to compound return quickly in profitable periods and reduce some risk when the indicator does not behave as profitable.
5. The EA depends on BPB iCustom() formula. So, it will not work if BPB isn't installed in your MT4 platform.
6. The EA trade with the trend. It buys if a new pin bar appears above the upper Bermaui Bands Level and it sell if a new pin bar appears below the lower Bermaui Bands Level.
7. If the position went against the trend by a predetermined distance then the EA will take a new trade. After that it will calculate the average price and add/subtract the number of desired points of profits to get the target for all opened positions.
8. The EA was tested for several months on real accounts to make sure that it does what it is designed for.

Here is a screen shots for the EA results optimized to be used on AUDUSD 1hr as an example.

A screen shot for it working.

A screen shot for parameters.

About Bermaui Q stick (BQS)

Q stick (a shortcut for Quality Stick)  is a famous candle sticks trading indicator that was invented by Tuschar Chande. The main idea of Q stick is to make a moving average from the difference between the close and the open on the candles on the chart. According to the author if you are a candle stick trader then this indicator will help you to see the short term changes on the chart much better, because Q stick go in the heart of the candle stick theory which is the candle body.

Despite the advantages of the original Q stick indicator, it is calculated in points rather than percentage. So, I created my version Bermaui Q Stick (BQS) depending on pure momentum formula to measure the average candles body difference in percentage rather than in points.

Measuring the Q Stick in percentage will make it easy to use if you trade different securities like FOREX, Commodities and Indices at the same time.

Bermaui Q stick come with the Bermaui Utilities built inside it. So you can use BQS to:

• Draw Linear Regression or Standard Deviation Channels.
• Plot Rounded Numbers Levels on your chart.
• Explore supply and demand levels.
• Quickly switch between symbols and time-frames.

Here is a screen shot for the BQS plus BPB that show how they work togther.

The indicator and the EA is available for happy customers who leave a good review plus 5 stars.

I hope you can find Bermaui Pin Bars system profitable for you. If you have any question send it to me and I will answer as soon as I am online. I wish all of you happy trading with Bermaui Pin Bars.

Muhammad Al Bermaui, CMT
www.bermaui.com

Hello everybody,

Here is BPB Buffers for developers who want to use the indicator at their custom EAs or other products:

Here is an example for iCustom indicator that follow BPB Signals given by buffer #4.

//+------------------------------------------------------------------+
//|                                                  BPB iCustom.mq4 |
//|                          Copyright 2019, Muhammad Al Bermaui,CMT |
//|                                 Coded by Muhammad Al Bermaui,CMT |
//|                  Thanks for every MQL4 coder I learned from him. |
//|                         https://www.mql5.com/en/users/bermaui314 |
//+------------------------------------------------------------------+
#property copyright "Copyright 2019, Muhammad Al Bermaui,CMT"
#property link      "https://www.mql5.com/en/users/bermaui314"
#property version   "1.00"
#property strict
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_maximum +1.2
#property indicator_minimum -1.2

//--- Global Variables
double BPB;
//---Indicator Buffers
double SignalLine[];

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int OnInit()
  {
//--- indicator buffers mapping
IndicatorBuffers(1);
SetIndexBuffer(0,SignalLine);

//---indicator style DYNAMIC LEVELS & ARROWS
SetIndexStyle(0, DRAW_LINE, STYLE_SOLID, 3, clrWhite);

//---Index Short Name   
IndicatorShortName("BPB iCustom");

//---Index Data Window Label
SetIndexLabel(0,"BPB Signal");

//---
   return(INIT_SUCCEEDED);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int OnCalculate(const int          rates_total,
                const int      prev_calculated,
                const datetime         &time[],
                const double           &open[],
                const double           &high[],
                const double            &low[],
                const double          &close[],
                const long      &tick_volume[],
                const long           &volume[],
                const int            &spread[])
  {
int   limit; 
int   counted_bars = IndicatorCounted();
      
//---- check for errors
if(counted_bars < 0) return(-1);
  
//---- recount the last Bar
if(counted_bars > 0) counted_bars--;
limit = MathMin(Bars - counted_bars, Bars - 1);

//--- main loop
for(int  i=0; i<limit; i++)
  {
BPB = iCustom(Symbol(), Period(), "Market\\Bermaui Pin Bars", 4, i);

if(BPB <= 20)            { SignalLine[i] =  1; }
if(BPB >= 80)            { SignalLine[i] = -1; }
if(BPB > 20 && BPB < 80) { SignalLine[i] =  0; }
  }
//--- return value
   return(0);
  }

This indicator's code result will be a line that follow BPB signal.

• If the candle have a high long shadow it will return positive one.
• If the candle have a low long shadow it will return negative one.
• If the candle shadows is not tall enough then it will return zero.

Here is a screen shot:

The iCustom code is attached to this comment and I am sure that a lot of programmers will find it helpful.

Kind regards

What is Pin Bars

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.

The first time I read this word was in Martin Pring famous book "Technical Analysis Explained". He mentioned a kind of a false breakout pattern for support and resistance that consist of one bar, called "Pinocchio Bars".

By definition the bar charts consist of three prices, which are "High, Low & Close. The American technical analysis school didn't know about the open price and Charles Dow saw that the close price is the most important price after all. So, the Pinocchio Bar can be built from high, low and close prices, where the close price gets too close to the high or the low. This form a bar with a long tail to the up or to the down.

When this one bar pattern penetrates an important support, resistance or a trend line it looks like a false breakout or a trap that might lead to a wrong buy or sell decision.

.

.

When candlesticks appeared in the field of technical analysis it made a lot of noise, because they make charts more clear and give their readers more information by adding just one piece of prices which is the open's price.

Candlesticks is more colorful and contain more patterns. With candlesticks the Pinocchio bar pattern is converted to Hammer, Inverted-Hammer, Hanging Man, Shooting Star, Dragon Fly Doji or Grave Stone Doji and more. Most of those patterns are reversal by definition.

In our days most traders like to group all candlesticks with tall shadows, wicks or tails under one name which is "Pin Bar".

Bermaui Pin Bar Equation

Of course you may think that it will be easy to build a tool that can detect pin bars on your chart, because it is a small pattern that consist from one bar, but in reality when you scan the internet searching about a good quality piece of a code that can do the job you won't find any. All codes their miss something and that is why they have parameters to help detecting the pattern, while our eyes can find the pattern easily without any parameters or calculations.

The reason for this problem is that when most coders try to program a code to detect the pin bars, they concentrate on the relation between the body of the candle and its range, but what I did is different, because I concentrated on the relation between the center of the body and the range.

There is a simple fact about candlesticks which say that the body of the candle stay between the distance from the high to the low. It can't go higher or lower. Also, if the center of the body moves to the upside or to the downside and gets closer to the high or the low of the candlestick, then the body must shrink in size.

Depending on this fact I built my equation to find the center of the body and, where it is from the range of the candlestick. With this simple equation I was able to find pin bars easily despite of the candlestick range and without any parameters.

.

The equation will find the pin bar and the indicator will draw it on the chart. If the open is lower than the close, then the candlestick is bullish and colored with green. If the open is higher than the close, the candlestick is bearish and colored with red.

Of course, a green candle with a long tail to the downside will look more bullish than a green candle with a long tail to the upside. Also, a red candle with a tall upside tail is more bearish than a red candle with a tall downside trail.

Also, the location of the candles from the current trend is important. If a bullish pin bar appears at the end of a down trend it may lead to reversal and if a bearish pin bar appears at the end of an uptrend it may be the end of this trend.

I will talk about trading the pin bars in another article, but for now I hope you can find Bermaui Pin Bars system profitable for you. If you have any question send it to me and I will answer as soon as I am online. I wish all of you happy trading with Bermaui Pin Bars.

Muhammad Al Bermaui, CMT

www.bermaui.com

Welcome to the world of Bermaui Pin Bars

In this article I want to shed the light on the "BPB Expert Advisor" and give a proof that the EA have a high rate of success and is robust enough to generate good income from the market. But before this let me first explain the idea behind this EA.

Now, for all our happy customers who leave a good review and five stars you can have BPB Tools Kit that contain:

1. BPB Average EA.
2. Bermaui Q Stick Indicator.

By gaining the skill of using the three tools I ensure you that you can beat the market hard. and make the money you ever dreamed off.

Steps to have the BPB Tools Kit:

1. Buy BPB from the market. Here is the product link: https://www.mql5.com/en/market/product/40945
2. Add your review in the reviews section as a happy customer plus five stars. Here: https://www.mql5.com/en/market/product/40945#!tab=reviews
3. I will send you EA copy as a private message.

How Does the Bermaui Pin Bars EA Works?

After I built the Bermaui Pin Bars equation I found that the power of this candlestick pattern differ from one situation to another. There are some conditions that make some of those patterns more important than the others. From those conditions:

1. The main trend and if it is bullish, bearish or sideways.

2. The color of the BPB. if the BPB candle is green, then this means that the close is higher than the open. If the BPB candle is red, then the close is lower than the open.

3. The wick or the shadow of the candle. Green candles with long wick from the low is more bullish than green candles with long wicks from the high and vice versa.

To define the main trend direction, I use Bermaui Bands. When a BPB pattern appear above the Upper Band then it is a buy signal, and if it appears under the Lower Band it is a sell signal. I ignore trading inside the bands when the upper and lower Bermaui Bands expand away from each other to form the Bermaui Bands Cloud.

So, BPB EA is a trend following system that catch the trend when a new BPB pattern appears. It does not trade when volatility is low because the market may be in a sideways area.

Here is an example on Selling

Another example on buying

BPB EA Money Management Strategy

The EA depends on the concept of averaging. It begins a trading cycle depending on the previous technical analysis conditions. If target is hit, then it waits for the next opportunity. If price candles moved against the first buy with a predetermined value a new order is triggered. The entry price of both trades is averaged. The target for both trades is added or subtracted from the entry average price.

This create a group of orders taken from different positions and have the same target. As price fluctuate the probability of hitting the target increase.

The trader has a high control on his risk depending on the EA parameters. He can change his lot size percentage, take profits, steps between orders or the maximum number of orders to take.

No Magic Number

MT4 allow to use one EA on each chart. Also, each chart has a Char ID which is a unique number for this chart. So, it was logical to use the Chart ID as a magic number for the BPB EA. This will stop the logical errors that happen if the user forgets to change the magic number of the EA for each chart that he adds the EA on it.

Bermaui Pin Bars EA Success Proof.

When I wrote this EA I wanted to give user a way to optimize the indicator parameters depending on the chart that he trades, but when I did optimization I found that the EA has a great abilities despite of the BPB indicator setup of parameters.

In the next screen shots, I will show you the results of optimization process done on several currency pairs. The optimization was done on the Bermaui Bands parameters only and the money management parameters was left to default.

EURUSD Optimization Graph

USDJPY Optimization Graph

USDCAD Optimization Graph

AUDUSD Optimization Graph

I really wish to show you every optimization that I did but I found it better if you did it by yourself. If you want to learn about expert advisor's optimization process, then I suggest to read the next two blogs.

Optimizing True Direction Oscillator (Part One)

Optimizing True Direction Oscillator (Part Two)

The indicator and the EA is available for happy customers who leave a good review plus 5 stars.

I hope you can find Bermaui Pin Bars system profitable for you. If you have any question send it to me and I will answer as soon as I am online. I wish all of you happy trading with Bermaui Pin Bars.

Muhammad Al Bermaui, CMT

www.bermaui.com

Bermaui Pin Bars Multi Time Frames Panel

Bought indi today please send me the ea and indi..thanks

Rick

Bought indi today please send me the ea and indi..thanks

I bought indi.

send me the ea and inidi.. thank you 

hello my friends,

I am happy to announce the Bermaui Pin Bar version 2.0. The new version is similar in shape to the previous one, the code was checked and three new changes was made.

1- Fixed a bug at the MTF Label that happened with the (Do Nothing) option of the color list.  Also added their color equal to the foreground.

2- Added check up code that print a message in the terminal expert section if the email or mobile notification doesn't work correctly. If everything works fine the email/notification will be sent to your mobile, otherwise a printed message will appear on your terminal like this:

3- Re-coded the indicator objects to change their dimension according to the screen resolutions. So, it is supposed now to work with any screen despite it's dimension.

How to install Bermaui Pin Bar version 2 on your PC or VPS Windows

1. Your MT4 terminal must be associated with your MQL5.com account, to do this, go to settings:
Tools ---> Options ---> Community

Then enter Login and Password from mql5.com

.

2. In your MT4 click Terminal (CTRL+T) -->Market, then search for Bermaui Pin Bars:

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3. Open Bermaui Pin Bars then  click Update / Download Button.

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4. In case you can't see the install button then delete the indicator from your terminal, then restart the terminal and make the previous steps.
.

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If you need anything then send me a message or write directly here in the comment section and I will answer as soon as I am online.

Best regards
Muhammad Al Bermaui, CMT

Hello,Bermaui

I left 5 stars review. Can you give me your brilliant EA?

I am looking forward to the results.

Thanks for the review,
.
Bermaui Average EA Link:
https://www.mql5.com/en/blogs/post/730567

Thanks for your trust Max.

Here is my answer: