OPEN-SOURCE SCRIPT
Pinbar Buy/Sell Arrows
Pin Bar Detection: The script defines functions for detecting bullish and bearish pin bars based on the proportions of the candlestick body and wicks.
Bullish Pin Bar: Has a long upper wick relative to the body and a body-to-wick ratio below a certain threshold.
Bearish Pin Bar: Has a long lower wick relative to the body and a body-to-wick ratio below a certain threshold.
Arrows: Green "BUY" arrows are plotted below bullish pin bars, and red "SELL" arrows are plotted above bearish pin bars.
Bullish Pin Bar: Has a long upper wick relative to the body and a body-to-wick ratio below a certain threshold.
Bearish Pin Bar: Has a long lower wick relative to the body and a body-to-wick ratio below a certain threshold.
Arrows: Green "BUY" arrows are plotted below bullish pin bars, and red "SELL" arrows are plotted above bearish pin bars.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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