Pin Bar Indicator recognizes pin bars when trading currencies and binary options.

The strategy is based solely on price action.

• Distance: the distance from the top or bottom of the candle to display the arrow, in pixels
• UseAlerts (true/false): enable alerts
• PopAlerts (true/false): alert in the pop-up window
• EmailAlerts (true/false): email alert
• PushAlers (true/false): push notifications
• SoundAlerts (true/false): sound alert
• SoundFile: Sound alert file

• To buy: wait for the bullish pin bar in the support area after the
  bearish trend. Wait until the price breaks through the maximum of the pin bar (5
  pips above the maximum for H1 and larger timeframes, 1 pips for
  M5). As soon as the maximum is broken, enter the deal. You can also
  use a BUY STOP order set at 5 pips above the maximum of the
  candle (plus the spread). Set the stop loss below the minimum of the pin bar. If the
  order is not activated on the next candle, the trade is canceled.
• For selling: wait for a bearish pin bar in the resistance zone
  after the bullish trend. Wait until the price breaks the minimum of the pin bar (5
  pips below the minimum for H1 and larger timeframes, 1 pips for
  M5). As soon as the minimum is broken, enter the deal. You can also
  use a SELL STOP order set at 5 pips below
  the candle minimum. Set the stop loss above the maximum of the pin bar. If the order is not
  activated on the next candle, the trade is canceled.

[spoiler title=”Read More…”]

You can use the Fx Levels () indicator to display support and resistance levels when trading on pin bars.

We also suggest using the Naked Forex Kangaroo Tail indicator, which is an improved version of the Pin Bar:

The indicator can be used on any timeframe and on any instruments: forex, futures, commodities and stocks.

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