(FOR MT5) Pinbar Scanner For Multi Pair and Multi Time Frame :
This indicator has been designed to automatically identify high probability pinbar formations.
It includes an RSI trend-filter for finding the best oppportunities and it will send you an alert when these setups are found.
IMPORTANT FACTORS TO KEEP IN MIND:
A strong pinbar is clear evidence that the institutions are rejecting a particular price level.
These price levels are excellent areas to determine potential entries and exits.
And these price levels also provide the opportunity to use excellent risk and reward ratios.
PLEASE NOTE:
We have been selling this same indicator for MT4 for several years on this platform.
And you can see that it has over 30 excellent reviews from previous clients.
You can click on this link for further reference:
https://www.mql5.com/en/market/product/13575#!tab=reviews
Features:
- This indicator can monitor all 28 pairs at the same time.
- It can monitor every timeframe, from 1 Minute to Monthly. All at the same time.
- It will automatically trigger an alert whenever the appropriate pattern is identified.
- The indicator includes an RSI trend filter, to identify the best possible pinbars.
- It can monitor any symbol in your Metatrader platform. Including crypto, commodities, indices, equities, ETF's etc.
- This indicator only needs to be placed on one chart and it will simultaneously monitor the entire market, all on one screen.
This will save you an enormous amount of time and effort. As you won't have to flip through dozens of charts for analysis.
And this will allow you to focus on other aspects of your trading. Such as further technical (or fundamental analysis).
This will also give you more time to find other trading opportunities.
Indicator Parameters:
- RSI Period : Setting for RSI filter
- RSI Up Level : Overbought level for RSI filter. Pinbar must form above this level in order to be valid.
- RSI Down Level : Oversold level for RSI filter. Pinbar must form below this level in order to be valid.
- Pinbar Percent : This is the maximum allowed body / length ratio.
The smaller the percentage you choose, the smaller the body of the candle.
Therefore, the smaller the percentage you choose, the more dramatic the pinbar must be.
For example:
- If you select '5', the body of the candle can only be a maximum of 5% (1 / 20th) of the entire candle.
- If you select '10', the body of the candle can only be a maximum of 10% (1 / 10th) of the entire candle.
- If you select '25', the body of the candle can only be a maximum of 25% (1 / 4th) of the entire candle.
- Symbols : Here is where you select which pairs to monitor.
The indicator monitors 28 pairs by default, but you can select less pairs if you wish.
- Alert on M1 : True = Yes, False = No
- Alert on M5 : True = Yes, False = No
- Alert on M15 : True = Yes, False = No
- Alert on M30 : True = Yes, False = No
- Alert on H1 : True = Yes, False = No
- Alert on H4 : True = Yes, False = No
- Alert on D1 : True = Yes, False = No
- Alert on W1 : True = Yes, False = No
- Alert on MN1 : True = Yes, False = No
See the images below for further details and contact us if you have any questions.
HUNDREDS OF 5 STAR REVIEWS AND OVER TWO DECADES OF REAL WORLD MARKET EXPERIENCE:
This indicator has been created by a former hedge-fund employee, with almost 25 years
of market experience. And our company has been selling high quality indicators on this
platform since 2015.
Over the years we have helped THOUSANDS of satisfied clients and we have received
HUNDREDS of 5 star reviews .
And we are proud to say that all of our reviews are 100% GENUINE .
With absolutely no client manipulation, or questionable tactics of any kind.
For further details regarding our background, we STRONGLY RECOMMEND that you take a look
at our profile. In order to get a better understanding of our overall trading experience and our
approach to the market.
https://www.mql5.com/en/users/escobedofx21
