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An interesting indicator based on the classic Pin-bar strategy with some author’s modifications, additional filters have been added. It turned out to be a good indicator, with which it is now easier to find entrances to the market at the early stages of its reversal.
The indicator shows good signals on both small and large timeframes. There is a version for MetaTrader 4 for MT4 users.
- signals are given on “Pin bars”, which signal a trend reversal
- with the help of filters, only the best “Pin bars”are selected for the signal
- does not redraw on closed bars
- the optimal algorithm of operation, so the terminal does not “hang”
Sell signals appear only above the channelMA ± ATR×Coeff, and buy signals are only below the channel MA ± ATR×Coeff.
- Filter 1: Maximum of Bars-the signal “Pin bar” must be an extreme for the specified number of bars
- Filter 2: MA Period – the MA period for calculating the channel
- Filter 2: ATR Period – the period of the Average True Range indicator for calculating the channel
- Filter 2: ATR Coeff-multiplier of the ATR value for adjusting the channel width
Download the trial version for free to test the indicator in your strategy tester. This way you will make sure that the indicator will really be useful for you.
Thank you for using the indicator. I will be glad to have suggestions and suggestions for improving it.
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