During my searches, I’ve encountered several MetaTrader indicators capable of detecting Pinbars on the chart. Some of them can be found here: http://www.earnforex.com/forum/f12/random-indicators-8052/ and here: http://www.earnforex.com/forum/f12/pinbar-indicator-8377/. Unfortunately, they all have disadvantages — lack of customization parameters and even outright detection bugs. That’s why I’ve decided to create my own Pinbar pattern detector that would help traders to work with the Forex Pinbar trading system. The resulting indicator is completely free and offers the following features:
Customize the detected patterns with 10 input parameters.
Optional sound and email alerts.
Extremely fast execution both in MT4 and MT5 platforms.
It’s easy to modify the code to add your own detection parameters.
You can download the code of the MT5 and MT4 versions or read more info about this price action indicator.
If you find any bugs in this MetaTrader indicator or if you want to share some interesting input parameters combination, please post a reply via commentary form below.
