The Pin Bar Detector is a technical analysis tool designed to identify pin bar candlestick patterns on trading charts. A pin bar is characterized by a small candle body and a long shadow, indicating a significant rejection of prices that can signal potential reversals in the market.
Release Notes:
The Pin Bar Detector is a technical analysis tool designed to identify pin bar candlestick patterns on trading charts. A pin bar is characterized by a small candle body and a long shadow, indicating a significant rejection of prices that can signal potential reversals in the market.
Release Notes:
The Pin Bar Detector is a technical analysis tool designed to identify pin bar candlestick patterns on trading charts. A pin bar is characterized by a small candle body and a long shadow, indicating a significant rejection of prices that can signal potential reversals in the market.
Parameters:
Ratio body vs candle size: A floating point input that defines the ratio of the candle's body to its total size. It specifies the maximum body size relative to the candle to qualify as a pin bar. Default value is 0.3.
Position body ratio: A floating point input determining the ratio of the body's position within the candle. This value helps to establish the threshold for the top or bottom placement of the candle's body to identify a pin bar. Default value is 0.6.
Only friday candle: A boolean input that allows users to specify whether the indicator should only detect pin bars that occur on Fridays. Default is set to true.
Keep pin color: A boolean input that, if enabled, requires the pin bar to maintain the color significance (green for bullish and red for bearish) for identification. Default is set to false.
Minimum pinbar size in pips: A floating point input specifying the minimum size a pin bar must be, in pips, to be considered valid. Default value is 50.
Parameters:
Ratio body vs candle size: A floating point input that defines the ratio of the candle's body to its total size. It specifies the maximum body size relative to the candle to qualify as a pin bar. Default value is 0.3.
Position body ratio: A floating point input determining the ratio of the body's position within the candle. This value helps to establish the threshold for the top or bottom placement of the candle's body to identify a pin bar. Default value is 0.6.
Only friday candle: A boolean input that allows users to specify whether the indicator should only detect pin bars that occur on Fridays. Default is set to true.
Keep pin color: A boolean input that, if enabled, requires the pin bar to maintain the color significance (green for bullish and red for bearish) for identification. Default is set to false.
Minimum pinbar size in pips: A floating point input specifying the minimum size a pin bar must be, in pips, to be considered valid. Default value is 50.