Pin Bar Detector for MT4


This sophisticated software automatically draws only the strongest trend lines and recognizes the most reliable chart patterns formed by trend lines Thanks in Million — million, Nail.

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The kangaroo tail with a very long tail suggests the market has become extremely excited before reversing sharply.

So, a kangaroo tail on a zone is a high-probability reversal candle at a spot on the chart where the market has historically reversed time and time again. A small tail suggests that the market may come back and test the zone once again. Kangaroo tails should be near the previous candle. One way to quantify whether a kangaroo tail is near recent price action is to look at the open and close relative to the nearest candle.

The obvious entry trigger for the bullish kangaroo tail is a buy stop a few pips above the high of the kangaroo tail. Once the market pushes through the high of the kangaroo tail, it will trigger the buy stop, triggering an entry for the trade.

For the bearish kangaroo tails, a similar entry works well: The stop loss for the kangaroo tail is placed on the other side of the tail, just a few pips beyond the tail see Figure 8. This emergency stop loss is the maximum stop loss for the trade. The emergency stop loss is the maximum loss for a kangaroo tail trade. There are also several red flags, so watch out for these ones. Posted by Devana at Ho Soon Tan 21 September at Here is an excellent indicator to spot the Pin Bars on MT4 Best used on at least 4 H charts, preferably Daily, utmost patience is required but the payoff can be enormous especially if you are able to add on trades.

Anyone spot any Pin Bars yet? Wow, didn't have the confidence to take this one, look at it now! Dec 9, Messages: Thanks for the share, I am hoping to make something like this - I actually did make one years ago I have to dig it up and fix it up for the war room. Apr 9, Messages: I'm still looking for another Dale, not sure about this one, see this chart, I've tried every setting I can think of to make the bottom pin be shown but just can't get it.

I'm thinking the basic part works but the custom settings part of it doesn't work with new MT builds. Jul 10, Messages: Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice.

We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results. I get a lot of emails from traders asking me how much they should risk per trade and my response is usually something along the lines of: Brokers are trying to scam you This is a biggie that I get emails about almost every day.

Trading systems and strategies are the most important aspect of trading If you go to any bookstore and look at the finance section you will find a lot of books on technical analysis but far less on trader psychology and money management. Good trading, Nial Fuller. Checkout Nial's Professional Trading Course here.

Thank you so much.. Maros April 17, at 9: You really know how to get the things together. So good hearing the essentials again. I need to hear it over and over again. Ralph December 16, at 3: There are a lot of fly by nighters out there,and I mean a lot Nial is one of the very few lectures who captures my attention and imagination in its intirity Reply. Radiostar December 12, at 9: More superb advice, Nial.

Thank God for your knowledge, pls how can I pay from Nigeria? Yalami, Tsware December 10, at 9: Barry M December 10, at 9: Norman December 9, at Excellent article as always, thanks Nial! Arpita Sen December 9, at 4: Devram Shelke December 9, at 3: Siyabonga December 8, at 2: George December 8, at Extremely useful, as always, thanks Niall.

Hi Nials, You tell it how it is , not how you think it should be. Hamish Blyth December 8, at 8: Lyte December 8, at 7: Rahim Aziz December 8, at 6: Nial Thanks much for sharing those precious elements. Best regards, Rahim Aziz Reply. Samarakoon December 8, at 1: MardyJ December 8, at Wish i read misconception paragraph 4hrs ago. JJozsef December 8, at Its very usefull article, thanks Nial!

Mike December 8, at Nice article Nial Cheers Mike Reply. Souto December 7, at Thanks so much Mr. I have really learnt a great deal about how to manage funds. Amao December 7, at 9: Jeff December 7, at 9: Tuan Nguyen December 7, at 9: Tuan Nguyen from Vietnam Reply.

Good Advice, thanks Nial Reply. Mario December 7, at 8: James Mboho December 7, at 8: Sri Nath December 7, at 8: DEJI December 7, at 8: