KT Pin Bar
KT Pin Bar Indicator
MT4 | MT5
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.
- 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
Bearish Pin Bar
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.
- 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.
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