Pin Bar System

[MajorDutch]

OK. This is the pin bar indicator i have created this morning. Although i am a professional software developer i have not been using mql for that long so i make no guarantees or warranties relating to this.
It has a couple of parameters you can alter to your preference and has an optional sound alert.

MinPercentRange – The indicator takes the average range of the last 6 bars so we don’t get stupidly small pins etc. This is the minimum range our candidate must be in relation to this average.
BodyToRangeRatio – The size of the body as a percentage of the total range expressed as a ratio. (3.3 is 33%) just divide your percent by 10.
Body DirectionalPercent – The body must be enclosed in the top or bottom x percent of the bar. In this case 45. So for a long trade the body needs to be enclosed in the top 45% of the bar.

By changing these settings you should be able to make it more or less sensitive to the perfect pin shape.

This indicator is free for you to use or modify as you want. All i would say is can you please post any changes, settings or anything you include it in here so we can all benefit.

good work Mata Nui!!:smart:

 

[Mata Nui]

good work Mata Nui!!:smart:

Check it. I think i broke it. Mine is now giving sound alerts but no arrows.

 

[pocrel]

Check it. I think i broke it. Mine is now giving sound alerts but no arrows.

yes i just applied it and mine is the same sounds but no arrows:|

 

[pocrel]

alot of trade alerts to many to name make your choice everything short

 

[pocrel]

short the dax

 

[pocrel]

short the dax

**** had some new trade management system running and i am out already i forgot it was on, i was wondering where my positions went, at least it works just need to make sure the pip count is accurate

 

[pocrel]

shorting gold

 

[Mata Nui]

I found the problem. Its not serious. Its just the display of the arrows on some FX pairs (5 digit stuff). I will fix once i pick my boy up from school.

 

[pocrel]

shorting gold

black line is gold entry

chart

 

[pocrel]

things happening quickly i am short the dax again without the auto trade management system, also trade alert in dow and s and p shorts

 

[megamuel]

Hi

Thanks for posting the EA and indicators. I was able to load these up and get it running on my MT4 account.

I changed the logic in the Pivot indicator to correctly calculate the Monday levels from Friday instead of Sunday. In addition to this I amended the pin bar logic to be a bit more fussy about the direction of the pin bar close before deciding whether it was a long or short pin, eg. the bar has to be neutral or close down to be a 'short' pin.

Amended code is attached and I welcome any comments.

One question I have for anyone who has tried back testing the EA, how long did it take to complete say 2 years testing on the EURUSD ?

It seems to run for hours on my machine.

Good stuff Amer, I will have a closer look when I finish work later. I did some backtests from Jan 2008 and it took me like 2 days! A way you can speed it up is to press control alt del and go to your task manager. Go down the list and find 'terminal.exe' right click it and got to 'set priority' and then change it to 'high'. Should make it quicker, give it a go.

Sam.

 

[pocrel]

trade alert shorting the dow now

 

[pocrel]

closing full position on the dax +27

 

[pocrel]

things happening quickly i am short the dax again without the auto trade management system, also trade alert in dow and s and p shorts

dax chart

thank you trade mgmt system for exciting me early and i was able to get a much better entry

black like was entry

 

[pocrel]

trade alert shorting the dow now

needed to get my risk down with both dax and dow shorts

here is the entry on the dow

 

[Mata Nui]

Fixed.
I forgot that MT4 buffers are related to price so when i told it to use the high/low +/- an offset to show the arrow i didnt pay any regard to the fact different instruments have a different number of decimal places. If you have a 5 digit broker on fx it would have painted the arrow about 30,000 points away. :whistling

Fixed now.

 

[pocrel]

everyone should be short one of the index now plenty of nice setups

 

[pocrel]

i have shorted the dax again from 7398.3 stop 7421.9

 

[pocrel]

things happening quickly i am short the dax again without the auto trade management system, also trade alert in dow and s and p shorts

stopped out of gold -51 full points

 

[Mata Nui]

stopped out of gold -51 full points

That was another really poor pin on gold. My indicator with default settings would have kept you out of that one.