Pinbar Detector

Enivid

Administrator
Staff member
Nov 30, 2008
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I would like to ask Enivid. In your experience, what is the best setting to use to capture trend reversal? Should we keep the USE CUSTOM SETTINGS parameter as FALSE? And if it's like TRUE, what is the best setting for each parameter of the following lines?

I don't use Pinbar Detector in my trading, so I cannot answer your question, but I believe that the default settings should work rather well.
 

pkartaaa85

Trader
Oct 11, 2020
6
0
17
40
Hi admin ,What are the parameters to be changed to get the below result
1)(bodyHeight/candleHeight)%<50
2)Body height <0.15% of open of the day in case of min to Hr time frame(In case of week week start)
 

Enivid

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1)(bodyHeight/candleHeight)%<50
Which candle? For Nose, it is the CustomMaxNoseBodySize parameter (set to 0.5).
2)Body height <0.15% of open of the day in case of min to Hr time frame(In case of week week start)
You want to compare candle's height to the absolute price level? No, there isn't an input parameter for that.
 

Molibedium

Banned
Jul 24, 2020
2
0
17
32
Hello envid, please I have been trying all day to tweak the default settings but I honestly am not getting it right, I am trying to set it up on deriv crash and boom indices for 1hr timeframe but the default settings isn't picking out any pin bar, please is the settings in relation to the spread of a particular chart, also from the attached pictures you only stated for bearish pin bars , how about image for bullish pinbars
 

Enivid

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@Molibedium Spread, volatility, average daily range, and so on do not matter for PinbarDetector. The only reason for it not to show any pinbar (except for some error in the code) is that no candles satisfy given relationship of OHLC distances.

As for the bullish pinbars, I might add more images in the future, but it would be rather redundant as they would be just an inverse version of the bearish pinbars.
 
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djarturos

Newbie
Dec 19, 2021
2
1
1
37
Hello, is there option for set up maximum and minimum of whole candle in pips/points? There could be VERY useful option for me. I can avoid some small doji candles with only few pips lenght. Or eventually could you add this code line to the parameters?
Example:
- candle appears - it is 4 pips long (body + tail)
- body of the candle is 1 pips long which means MaxNoseBodySize = 0.25
- it means a very small Pin Bar but I don't want to trade it - I am hunting for very long tails with small body
 
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Enivid

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Hello, is there option for set up maximum and minimum of whole candle in pips/points? There could be VERY useful option for me. I can avoid some small doji candles with only few pips lenght. Or eventually could you add this code line to the parameters?
No, there is no absolute length filter right now. Maybe I will implement it in the future, but I am not sure.
 

djarturos

Newbie
Dec 19, 2021
2
1
1
37
No, there is no absolute length filter right now. Maybe I will implement it in the future, but I am not sure.
Thanks for answer. Okay, I understand. Think about it, please. I need just this one thing but I have no idea about coding and I don't know how to change it ;p
 

najafi

Trader
Nov 19, 2021
4
1
9
27
Iran
Hey there,
Just wanna say thank you for updating the Pinbardetector.
I've changed the arrow code to 170, and I think it's better now.
 
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CARPARK

Trader
Mar 29, 2021
69
23
24
46
Tallinn
Hi Enivid a few questions on your MT5 version:

- It's not clear where I can input the 'minimum candle length' - I assume this is in pips? Or points?
- It's not clear how many of the custom settings influence what candle it detects by default. For example: if I leave it as 'false', I would assume the indicator would choose any and all pinbars (eg single bars, without influence from bars next to them). But how do I define the form of these default pinbars? Why didn't it indicate all the pinbars I have marked in red?
- I am trying to isolate bars like the one circled in red, to the far right (you can actually see I executed on the next bar. I have been struggling what settings I should use? It's mainly the proportions, they are perfect. And a full bodied bar opposite direction next to it.

1694600151189.png

This chart is GJ, from today, M15, if you need to test.

Here's another example I am looking to find on the chart (dotted line runs through it):
1694600767790.png
This is also GJ M15, MT time code: 2023.08.24 10:15
Thanks for your work on this!
 
Last edited:

Enivid

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- It's not clear where I can input the 'minimum candle length' - I assume this is in pips? Or points?
Points. It says so directly in the parameter's name.

- It's not clear how many of the custom settings influence what candle it detects by default. For example: if I leave it as 'false', I would assume the indicator would choose any and all pinbars (eg single bars, without influence from bars next to them). But how do I define the form of these default pinbars? Why didn't it indicate all the pinbars I have marked in red?
No, setting custom to false makes it use the built-in default filter.

- I am trying to isolate bars like the one circled in red, to the far right (you can actually see I executed on the next bar. I have been struggling what settings I should use? It's mainly the proportions, they are perfect. And a full bodied bar opposite direction next to it.
Not sure how that's a pinbar, but you could try setting a negative Minimum protrusion value.