KT Pin Bar

Pin Bar Indicator MT4 | MT5 Free Download

Pin Bar Indicator MT4 MT5
Free Download

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Specs
Release date:December 26, 2018
Last updated:February 21, 2019
Current version:1.1
Product type:indicator
Requirements:MT4 | MT5
  • Description
  • Comments

KT Pin Bar Indicator identifies the pin bar formation which is a type of price action pattern which depicts a sign of reversal or rejection of the trend. When combined with support and resistance, BRN and other significant levels, Pin Bar pattern proved to be a very strong sign of reversal.

Basically a pin bar is characterized by a small body relative to the bar length which is closed either in upper or lower 50% part of its length. They have very large wicks and small candle body.

A pin bar candlestick can be a bullish or bearish candle, but as long as its structure meets the characters of perfect pin bar , color of the candle doesn't really matter.

Features

  • Depicts significant reversal points near Support/Resistance level.
  • Suitable for swing trading strategies.
  • Define the candle max. and min. size in pips.
  • Alerts included.


Bullish Pin Bar

Pin Bar Indicator MT4 MT5

Bearish Pin Bar

Pin Bar Indicator MT4 MT5

Points to remember while using Pin Bar Indicator

  • Reversal doesn't occur on every pin bar formation. In a trending market, price often keep going in the same direction regardless of any pin bar.
  • The pin bar occurs near the significant support/resistance levels, are the strongest. 
  • Don't treat every pin bar formation equally. The pin bar formed with the small candle body are the weakest.

Input Parameters

  • Pin Bar Depth: Define the nose to body ratio in percentage.
  • Max. Range in Pips: Max. size for the pin bar.
  • Min. Range in Pips: Min. size for the pin bar.
  • Rest of the inputs are self-explanatory.
Pin Bar Indicator MT4 MT5

Screenshots

{"autoplay":"false","autoplay_speed":"1000","speed":300,"arrows":"true","dots":"true"}

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