Pin candles are a variation of hammer candles that are useful in technical analysis . In particular, when combined with volume profile studies, they can be a powerful set up for long entries or other decision making. For example, when looking at volume profiles, a long entry would be a fair value area (i.e. 40%) below the close of a pin candle. When combined with...
The Pin Bar indicator is a pattern recognition indicator for Forex, Stocks, Indices, Futures, Commodities and Cryptos. The strategy that comes with the Pin Bar pattern is based on price action. Inputs of the indicator are: MaxBars: maximum number of bars back to calculate searching for signals BuySignals (true/false): you can filter signals and decide to show...
// TWA Pinbar Pivots V1.3 // TWA Pinbar Pivots looks for the highs and lows of impulsive moves in the market. // The signals are generated on pinbar candles indicating that the rally may be extended and looking to retrace. // This gives us an opportunity to enter the market in the opposite direction to the move taking advantage of the pullback. // The indicator...
This indicator marks both bullish and bearish Pin Bars. It helps you see potential turning points on the chart. You can set the following on this indicator: Length of lookback: The number of candles to compare the Pin Bar candle to. For a bearish Pin Bar, is this the highest high over the last X number of candles? For a bullish Pin Bar, is this the lowest...
My first script to identify pin bars with a predefined rules, any feedbacks are welcome. Rules Bullish Candle 1. Body of the candle should be above the 50% of the day's price range AND 2. Either the open or the close should be above the 30% of the day's price range if both the above conditions are met then a bullish arrow is produced with "B". ...