This indicator will help you find Pin bar a.k.a. "Pinocchio Bar" reversal pattern.
Pin Bar Characteristics
Open and Close of pin bar is within left eye
Open and Close of pin bar are very close together (the closer the better)
Open and Close of pin bar near one end of bar (the closer to an end the better)
A long nose that sticks out from surrounding prices (the longer the better)
Candle preceding is called left eye, and following candle is called right eye.
Option allows you to define the length of the nose as a percentage of the total length of candle,
includ checks of the left eye rule.
If MA filter is ON.
We will only have up signals if Price > MA,
We will only have down signals if Price < MA
- PB.lua
- (4.03 KiB) Downloaded 2873 times
This indicator provides Audio / Email Alerts if and when Pin Bar has been confirmed.
Compatibility issue Fix. _Alert helper is not longer needed.
Simplified Pin Bar Characteristics
Open and Close of pin bar are very close together (the closer the better)
Open and Close of pin bar near one end of bar (the closer to an end the better)
A long nose that sticks out from surrounding prices (the longer the better)
If MA filter is ON.
We will only have up signals if Price > MA,
We will only have down signals if Price < MA