The Pin Bar Trend Reversal Forex indicator for Metatrader 4 scans any currency pair for the best pin bars that occur in exhausting currency trends.
The indicator appears in the main chart window as yellow rectangles that highlight the bullish and bearish pin bars.
It’s recommended to confirm the trend reversal with additional technical indicators or with price action.
Buy & sell signal:
- Open a buy trade when the yellow rectangle appears at the bottom of the chart
- Open a sell trade when the yellow rectangle appears at the top of the chart
From our testings, the indicator does not repaint and works for any currency pair and time frame without slowing down the trading platform.
It can be used as a standalone technical tool or it can be combined with other technical indicators and trading systems.
Try first on a demo account until you fully understand how this indicator works!
Indicator Chart Example
The picture above shows the indicator attached to the Euro / U.S. Dollar chart.
How to install the Pin Bar Trend Reversal indicator to your Metatrader 4 platform?
- Download the HighLight_Pins.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration