Pin Bar Indikator for MT5

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Pin Bar Indicator for MT5

Introduction to the Pin Bar Indicator

The Pin Bar Pattern is one of the most effective reversal signals which is based on candlestick patterns. This is because it indicates price rejection which can be observed by its wicks pushing against a price level. The Pin Bar Indicator is a tool which was developed to help traders objectively identify pin bar patterns.

What is the Pin Bar Indicator?

The Pin Bar Indicator is a reversal signal indicator which is based on the Pin Bar candlestick pattern.

This indicator automatically identifies a pin bar pattern and indicates a reversal signal by plotting diamond symbols above and below the candlestick.

This indicator plots a green diamond above the candle and red diamond below the candle whenever it detects a bullish pin bar pattern. Omvendt, it plots a green diamond below the candle and a red diamond above the candle whenever it detects a bearish pin bar pattern.

Pin Bar Indikator for MT5

These pin bar signals can then be used by traders as a reversal entry signal or confirmation in confluence with other technical indications.

How the Pin Bar Indicator Works?

The Pin Bar Indicator has a simple algorithm which detects pin bar patterns based on a technical description of the pin bar pattern. This indicator confirms pin bar patterns by measuring and comparing the body of the candlestick with the whole range of the candle. The body, which is measure as the distance between the open and close of the candle should be below the threshold ratio when compared with the distance between the high and low of the candle. Another qualification that the indicator has is that the body of the candle should be either on the upper third or lower third of the range of the candle. If these qualifications are met, then the indicator would qualify the candle as a pin bar pattern. It would then plot the diamond symbols based on whether the body of the candle was on the upper third or lower third of the candle range.

How to use the Pin Bar Indicator for MT5

The Pin Bar Indicator has several options which can be modified within its settings.

How to use the Pin Bar Indicator for MT5

“Minimal Bar Spread (i pips)” sets a minimum candle range threshold in which the indicator would detect pin bar patterns.

“Minimal Spread / Body value” sets a minimum ratio between the body and the candle range.

“Use Close Thirds” toggles the upper thirds and lower thirds rule on and off.

Kjøp handelsoppsett

Når du skal angi?

Open a buy order as soon as the Pin Bar Indicator detects a bullish pin bar pattern in confluence with another bullish technical indication.

Når du skal avslutte?

Lukk handelen så snart prishandlingen viser tegn til en mulig bearish reversering.

How to use the Pin Bar Indicator for MT5 - Kjøp handel

Selg handelsoppsett

Når du skal angi?

Open a sell order as soon as the Pin Bar Indicator detects a bearish pin bar pattern in confluence with another bearish technical indication.

Når du skal avslutte?

Lukk handelen så snart prishandlingen viser tegn til en mulig bullish reversering.

How to use the Pin Bar Indicator for MT5 - Selg handel

Konklusjon

This indicator can be a very useful tool for confirming a trade entry based on a reversal signal. Traders can effectively use this signal as a trade entry trigger while in confluence with other technical analysis indications. Men, traders should not blindly use this indicator as a standalone basis for opening a trade but instead use it in conjunction with other trade signals.

MT5 Indikatorer – Last ned instruksjoner

Pin Bar Indicator for MT5 is a Metatrader 5 (MT5(andre)) indikatoren og essensen av denne tekniske indikatoren er å forvandle de akkumulerte historiedataene.

Pin Bar Indicator for MT5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Basert på denne informasjonen, handelsmenn kan anta ytterligere prisbevegelse og justere sin strategi tilsvarende. Klikk her for MT5 Strategier

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How to install Pin Bar Indicator for MT5.mq5 to your MetaTrader 5 Diagram?

  • Download Pin Bar Indicator for MT5.mq5
  • Copy Pin Bar Indicator for MT5.mq5 to your Metatrader 5 Katalogen / Eksperter / Indikatorer /
  • Starte eller starte Metatraderen på nytt 5 Klient
  • Velg Diagram og tidsramme der du vil teste mt5-indikatoren
  • Søk “Egendefinerte indikatorer” i navigatoren som for det meste er igjen i Metatraderen 5 Klient
  • Right click on Pin Bar Indicator for MT5.mq5
  • Legge ved et diagram
  • Endre innstillinger eller trykk ok
  • Indicator Pin Bar Indicator for MT5.mq4 is available on your Chart

How to remove Pin Bar Indicator for MT5.mq5 from your Metatrader 5 Diagram?

  • Velg diagrammet der indikatoren kjører i Metatraderen 5 Klient
  • Høyreklikk inn i diagrammet
  • “Indikatorer liste”
  • Velg indikatoren og slett

Pin Bar Indikator for MT5 (Gratis nedlasting)

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