Pin Bar System

[MajorDutch]

Here is a good example of a pin bar forming on AUDUSD against the daily trend. The bar formed at 14.00 london time and the trade has just triggered.

The dilemma here is do you take the trade against the prevailing daily trend and a previous bullish thrust candle at time of writing it looks like another pin bar candle is forming on the 14.30 candle.

There is no right or wrong answer to this its just a discussion point.

 

[DDI]

This is very similar to the wti long pin earlier this morning that I ignored (but turned out well). Am gonna look at the 130 or so charts I have but I do believe ignoring these set ups, you reduce a greater percentage of your losers than winners.

 

[D70]

Hi Pocrel,
Are you going to post some trade stats? Number of wins / losses, drawdowns, risk / reward etc etc.

 

[pocrel]

Hi Pocrel,
Are you going to post some trade stats? Number of wins / losses, drawdowns, risk / reward etc etc.

i can certainly post a load of figures and number crunched out over a number of year but that is not what i am trying to do here,you can find plenty of blog etc here on past performance, i know the system works for me and thats all i need to say about it
what i am doing here is showing the system working live and the profit or loss i am making in terms of POINTS

i do a summary eveyday, week and month and we are close to 2 months now and i have have not had a losing week yet and all trades are called live entry excits in real time and can be checked

i dont see alot of people on this site calling live trades and posting in real time and giving away there setups so everyone can judge them

please read over the journal and any questions shoot

 

[pocrel]

Tradle alert

order to short cable

chart
View attachment 113234[/QUOT

order now cancelled on cable

two 30min bars so order cancelled

 

[D70]

i can certainly post a load of figures and number crunched out over a number of year but that is not what i am trying to do here,you can find plenty of blog etc here on past performance, i know the system works for me and thats all i need to say about it
what i am doing here is showing the system working live and the profit or loss i am making in terms of POINTS

i do a summary eveyday, week and month and we are close to 2 months now and i have have not had a losing week yet and all trades are called live entry excits in real time and can be checked

i dont see alot of people on this site calling live trades and posting in real time and giving away there setups so everyone can judge them

please read over the journal and any questions shoot

Hi Pocrel,
I wasnt "having a go". Just wondered if you were keeping a tab on the numbers to see if your method gets better or worse. That kind of thing.

 

[DDI]

not exactly a pin on gold but i fancy it! Will go long if high is broken

 

[pocrel]

trade alert

long order pending on nasdaq 100

chart

 

[DDI]

long at 1495, good job i left order as it burst up!

 

[pocrel]

trade alert

long order pending on nasdaq 100

chart
View attachment 113240

trade on

long Nas 2400 stop 2391.5

 

[pocrel]

Hi Pocrel,
I wasnt "having a go". Just wondered if you were keeping a tab on the numbers to see if your method gets better or worse. That kind of thing.

no worries d70 i was not having a go at you either

as i say i am keeping records and they are dotted around the site so i will have to do a spreadsheet just for the system to make it easier for everyone to see, i do a monthly round up on the 14th of each month

 

[pocrel]

trade on

long Nas 2400 stop 2391.5

closing first half of nas for +8.5

closing second half for +9.5

1 to 1 r/r and also come into support for me

total +9 full points

chart

 

[pocrel]

Well thats me done for the week

been a week of missed opps for me especially monday and again unlucky with my time zones this morning missing the huge win on wti

daily total trades 2
total points +32


weekly trades 8

+12.5 full points

enjoy the weekend everyone and thanks for everyones posting, i will be back monday for nearly a full week next week

 

[DDI]

long at 1495, good job i left order as it burst up!

exited at 90 for 50 pip loss. dont see a reversal considering time of day

 

[amer328]

No problem, glad you've had a look and made some constructive criticism. I'm not brilliant at this sort of thing so its good to have some help. If we all work on it and test it together we might be able to make something good.

By the way, this is a back test from EUR/USD with 1:1 R:R and max 2 bars to break. Looks ok..

Sam.

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.

 

[MajorDutch]

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 job amer. I have run a backtest for your adapted pin bar and pivot indicators. I tried it on EURUSD for the last year at 1:1 RR, it has been running for 6 hours already, about 10 months in and the results are coming in at 50/50 so far which is dissapointing, maybe shooting for a higher RR will help. these backtest take ages unless someone can donate a supercomputer to the cause.

 

[DDI]

I reactivated an account I had with tradestation and last week started their easy language home study course". Going really well and I hope to be able to code this strategy within the next few weeks.

Anyone familiar with tradestations easy language?

 

[pocrel]

Morning, lines are drawn trading from 8, lets hope we get a good week,

well done to amer for adding to sams kind donation, amer is a great friend of mine who understands the system very well, i will keep an eye on the the pins and pivot in real time this week to see how it performing, i like the pins its picking out but as like my post bar indicators it can miss some to

fingers cross we can make something work on here

 

[pocrel]

trade alert, long dax now

 

[pocrel]

trade alert, long dax now

chart