Configuring a Price-Action Pinbar Detector for MetaTrader

Summary

This document describes a MetaTrader indicator that detects bullish and bearish pinbar candlesticks from price action and marks them on the chart. It can issue platform, email, and push notifications, and is offered for both MT4 and MT5. The indicator does not rely on standard technical indicators; detection is controlled through inputs that define the candle pattern and display behavior.

Configurable pattern rules cover the nose candle’s body size and position, its direction and protrusion, relationships to the preceding candle (the left eye), minimum candle dimensions, and whether the nose body must sit inside the left eye body. Other settings limit how many bars are scanned and adjust marker placement and alert channels. These parameters let users tune what qualifies as a pinbar, but the document gives no trading rules, validation method, or evidence of predictive performance. A detected pattern is a chart annotation, not by itself a tested entry or exit strategy.

Key ideas

• The indicator marks bullish and bearish pinbars using price-action rules.\nUsers can tune candle geometry and relationships between the nose and left-eye bars.\nAlerts can be delivered through MetaTrader, email, or push notifications.\nDetection settings define chart patterns but do not establish a profitable trading strategy.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.