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Or (BPB) is an indicator which find Pin bars price action routine on the chart. Pin Bars is a shortcut for
“Pinocchio Bars” which is a classic bar pattern alternative to japanese candlesticks with tall upper or lower inclines and incredibly tiny
bodies such as Hammer, Inverted-Hammer, Hanging Man, Shooting Star, Dragon Fly Doji or Grave Stone Doji.

Bermaui Pin Bars indicator find this pattern depending on a formula that can be explained in the next steps:

  1. at first BPB compute the middle of the candles body ( = [spacious Close] / two).
  2. subsequently BPB finds the space between the middle of the body and the candle low.
  3. The last step is to divide step 2 results by the candle range.
  4. If the candle body center is too close to the high or the low of the candles, then BPB detect a Pin Bar pattern and alert the user.

I enhanced Bermaui Pin Bars functionality by adding:

  1. A Multi Time Frame Candles Direction Panel to tell you the situation of the current candle for all time-frames.
    Where Green dots mean that Close>Open, Red means Close
  2. Bermaui Bands to help you figure out if the current trend is bullish, bearish or neutral. You can read more about it from HERE.

Bermaui Pin Bars Features:

  • Draw Pin Bar patterns on the chart.
  • Help the user to identify the trend depending on MTF Candles Direction Panel plus Bermaui Bands.
  • A well-designed color list with two options (Black / White Background).
  • Sound, email
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