Pin Bar MT4 Indicator
You are at the right page if you are here to download the Pin Bar MT4 Indicator. Please note that this indicator is designed to detect bullish and bearish Pin Bar. If you want more details about how to use the Pin Bar MT4 Indicator, please refer to our Pin Bar Trading Strategy post.
Pin Bar MT4 Indicator
When you see a Green Smily Face, it means a Bullish Pin Bar has been detected. If you see a Red Smily Face, it means that a Bearish Pin Bar has been detected. You can see from the chart above how easy it is to spot a possible reversal with this Pin Bar MT4 Indicator. Please take note if it does mean that when a smily face appears, you have to take the trade. You still need to confirm it with another indicator that you might be comfortable with. This Indicator is a tool designed to make your life easier BUT it is not meant to replace you as a trader. You are still the boss and you are the brains. The indicator merely alerts you but the end decision remains with you.
The best time frame to use this Pin Bar MT4 Indicator is 1H or longer. Shorter time frames tend to have too much volatility to make this indicator accurate. To increase the reliability of the Pin Bar MT4 Indicator, you can use other indicator like the Moving Average or the Bollinger Bands to weed out false signals. Having another indicator to confirm any signals would surely increase your winning percentage.
As always, we suggest that you test any new strategy (including this) on a demo account before trading using real money. Be sure to have at least 50 trades under your belt before either giving up on this trading strategy or going live. This strategy is highly effective in spotting reversal point. It will just take some practice to become more familiar.
Pin Bar MT4 Indicator Download
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