Trading utilities for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
PINBAR DESCRIPTION:
The Pin Bar EA employs a multi-strategy approach that combines pin bar trading with trend-following and mean-reversion techniques. A pin bar is a type of candlestick that signals a sharp reversal and rejection of price. It is defined by a long tail which is called the “shadow” or “wick”. The tail of the pin bar shows the area of price that was rejected and the implication Is that the price will continue to move opposite to the direction the tail points. A bearish pin bar signal as a long upper tail showing rejection of higher prices and the implication that price will fall in the near term, and a bullish pin bar signal as a long lower tail, showing rejection of lower prices with the implication that price will rise in the near term.
The EA utilizes technical analysis to identify pin bar candlestick patterns on various time frames. It has configurable parameters to adjust sensitivity, allowing traders to fine-tune the detection process based on market conditions. The Pin Bar EA can help you achieve your trading goals with efficiency and precision.
Recommended pairs: All major pairs like eurusd; audusd; gbpusd; nzdusd and also minor pairs like audcad; nzdcad; eurnzd and eurcad including xauusd on m15 time frame.
Real-time results can be viewed here.
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Settings and manual here
SETTINGS
- Open new series - on / off beginning of a new series of orders.
- Start lots - start lot.
- Trade Buy - allow the adviser to buy.
- Trade Sell - allow the adviser to sell.
- Use hedge - allow the adviser to trade both direction buy and sell. If off only one trade direction.
- Use Money Management - on / off use of automatic lot calculation.
- Autolot. Free margin for each 0.01 lot - the amount of free margin for opening every 0.01 lots.
- Lot miltiplier - lot multiplier for the following orders.
- TP - take profit, in pips.
- SL - stop loss, in pips from the first order.
- Trail Start - activation of a trailing stop.
- Trail Step - distance from the price when activating a trailing stop.
- DD Reduction Algoritm - drawdown reduction algorithm it when last order with profit will be close with first order series with loss.
- Number order for DD Reduction Algoritm - from which order the drawdown reduction algorithm is activated.
- Percent profit for DD Reduction Algoritm - percentage of profit when closing orders in the drawdown reduction mode.
- Magic - is a special number that the EA assigns to its orders.
- Fix distance - fixed distance between orders
- Order dinamic distance - from which order will the dynamic distance be applied in order.
- Dinamic distance start - the starting value for the dynamic distance.
- Distance multiplier - the dynamic distance multiplier.
- Start, End hour - time for opening the first order.
- Maximum Lot - maximum lot.
- Maximum spread - the maximum spread for the adviser.
