MT4 MT5 Description 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 resistanceBRN and other significant levels, Pin Bar pattern proved to be a very strong sign of best pin bars indicator. 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 barcolor of the candle doesn't really matter.
Suitable for swing trading strategies.
Define the candle max. Alerts included.
The download link for the Pin Bar Indicator on way down below towards the end of this post.
In a trending market, price often keep going in the same direction regardless of any pin bar. Don't treat every pin bar formation equally. The pin bar formed with the small candle body are the weakest.
Range in Pips: Max. Range in Pips: Min.
Rest of the inputs are self-explanatory. If you would like to know more about the pin bar patterns, we have an excellent blog post covering some useful pin bar trading strategies. Screenshots Help others make better choices.
The Pin bar is a unique candlestick system that signals price action traders into potential reversals in the market. He named it after the legendary Pinocchio. Since it lies about the market direction or tricks breakout traders into believing that price is moving towards a particular direction when in actual sense, it is reversing towards the opposite direction.
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