pin bar indicator (find out the pin bar candle easily!!!)

Hello all Forum Members

Now, I want to share one useful indicator, especially for the trader who use candlestick form as their trading basic. This is the PIN BAR INDICATOR

I think this indicator is good enough, because we can set every parameter with more detail, like the candle's body length, time frame we use, etc..

Here is the indicator
Pin bar.mq4

Frequently Asked Question
A : How to use this indicator???
Q : It's very easy, just waiting the smiling face appear and you can open a trade in the next candle. Here the example :
Spoiler Spoiler:


A : If this indicator work in any time frame???
Q : Yes, you can use this indicator in any time frame, but personally I suggest you to use it on M30 or higher time frame, because the pin bar usually more valid, but it's up to you

A : Can we set the pin bar parameter, like the nose or the body length??
Q : Yes you can, in indicator parameter you can set them.
Min nose ratio is the minimum nose ratio of the pin bar you want, the default is 60, so that's mean if the nose's length of pin bar is 60% from the full candle's length or bigger, the indicator will show the signal. Then, about the Max body ratio, the default is 40, so if there's still a body in the pin bar candle, this indicator will show the signal if only the candle's body is 40% from the full candle's length or lower.
You can set it here :
Spoiler Spoiler:

For example, if you think that the valid pin bar for you is the pinbar which has 75% nose length and the maximum body candle is 25%, you can put 75 in Min nose ratio parameter and 25 in max body ratio.

A : If this indicator profitable???
Q : This is just a tool to help you in identifying pin bar, of course it can be profitable or not, depend on how you make your trading decision

A : If this indicator work in every pair???
Q : YES!!!

A : Work for long term or short term??
Q : up to you, basically this indicator can help you in the both trading style

A : Please share the profit statement of this indicator
Q : I don't use the pin bar only in my trading, so I can't show it. Just take it if you like it and left it if you don't like it, i don't like this type question

A : What's the function the yellow arrow and the purple signal?
Spoiler Spoiler:

Q : I don't know, maybe someone can tell me?

A : How about take profit and stop loss?
Q : up to you, but you can set the ideal stop loss 1-10 pips below the low level of the bull pin bar and vice versa for the bearish pin bar. Take profit can same with stop loss or more.


Okay, that's it, I hope it can be useful information or indicator for you.

i think if you use low time frame with this indicator then you can get some false pin bar which will give you loss, so that if you want to make profit with pin bar then you should follow higher time frame, because with higher time frame you can get right trend.

wa aap nay tu kafi help ki hay logon ki mujay lagta hay kay aap kafi expert ho forex may aap asi koshish kartay raho takay logon ko or faiada ho or aap ka experience bi zayada ho.

ye to bhi achi information di hy ap ny aesi information dety rehna chahye. is sy newbies k bhi faida hy or old users ka bhi . unko bhi bht c nai bataian samjhny ko milti hain ..

well dear mai to yai kahun ga is baray mai k aap nay tu kafi help ki hay logon ki mujay lagta hay kay aap kafi expert ho forex may aap asi koshish kartay raho takay logon ko or faiada ho or aap ka experience bi zayada ho.....

ap nay acha tarha say indicator k baray me samjhaya hai hum ko b chahye k hum is indicator ko dekhen aur kam ko karty chalay jae us k bad me hum he yaha pay sub kamo ko dekh pae gay ye cheez achi hai.

apay bhout hi achi or mazedar information di hai hamaray leya bhai humen aise info deni chaeya taka odld man ki knowledge ma izafa hou or young man ki knowledge ma be izafa hou

agr hum indicators ko use karty hain to achi earning hasil ho sakti hay humain learning kar kay achy say kam karna ho ga jis saymarket main loss m hoga is main agr humain practice karty hain to kam karna kafi saai rhta hay analysis kar kay kam karna ho ga ta kay trade ko use karna kafi helpfull ho sakay ta kay trade main achi earning hasil ho sakay