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Pinbar Scanner For Multi Pair And Multi Time Frame

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The indicator was developed by a former employee of a hedge fund, and it automatically detects high-probability formations of pin bars. It includes a trend filter based on the RSI to find the best reversal formations, and when such formations are found, alerts will be sent.

  • For more information, see the screenshots, and if you have any questions, please contact us. We are always happy to help.
  • Please note that the version of this indicator for MetaTrader 4 has been around for more than a year, reviews/comments can be found here:
  • Also, be sure to watch our short videos. It includes the top 10 hedge fund trading rules that every trader should know.

  • Simultaneously tracks all 28 pairs. Attach the indicator to just one chart and immediately track the entire market.
  • It monitors every timeframe from M1 to MN, and also sends you a real-time alert when pin bars are found.
  • Real-time alerts when pin bar is detected.
  • Uses the RSI as a trend filter to correctly identify potential trend reversals.

  • RSI Period: Parameter for the RSI filter
  • RSI Up Level: The overbought level for the RSI filter. The pin bar must be formed above this level to be valid.
  • RSI Down Level: The oversold level for the RSI filter. The pin bar must form below this level to be valid.
  • Pinbar Percentage: The maximum allowable ratio of the candle body to length. The smaller the specified percentage, the smaller the candle body.

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For example:

  • If you select ‘5’, it will mean that the body of the candle can be no more than 5% (1/20) of the entire candle.
  • If you select ’10’, it will mean that the body of the candle can be no more than 10% (1/10) of the entire candle.
  • If you select ’25’, it will mean that the body of the candle can be no more than 25% (1/4) of the entire candle.

The smaller the size specified, the more pronounced the pin bar should be.

  • Symbols: Here currency pairs are selected for tracking. By default, the indicator tracks the top 28 pairs, but if desired, you can specify a smaller number of pairs.
  • Alert on M1: Alert on M1, True = Yes, False = No
  • Alert on M5: Alert on M5, True = Yes, False = No
  • Alert on M15: Alert on M15, True = Yes, False = No
  • Alert on M30: Alert on M30, True = Yes, False = No
  • Alert on H1: Alert on H1, True = Yes, False = No
  • Alert on H4: Alert on H4, True = Yes, False = No
  • Alert on D1: Alert on D1, True = Yes, False = No
  • Alert on W1: Alert on W1, True = Yes, False = No
  • Alert on MN1: Alert on MN1, True = Yes, False = No

[/spoiler]

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