Pinbar Detector is a technical analysis tool designed to detect Pinbar patterns in financial markets. Pinbars are reversal patterns that indicate a potential change in trend. This indicator is based on an existing Pinbar detector in MQ4/5 format, originally developed by "earnforex".
The PineScript version is written to work in TradingView, and can be applied to any chart to identify Pinbar formations. The indicator uses specific criteria to identify Pinbars, such as the length of the wick and the relationship between the wick and the body of the candlestick. By displaying the Pinbars on the chart, traders can make informed decisions about entering or exiting trades based on their analysis of the market's potential trend reversal.
This is a brilliant indicator. This is one of the earliest signal of a reversal at peak. You will get enough time to confirm it with any standard signal like RSI. Moreover, it is found equally useful for an undescribed another use. There will be small reversals during a main trend. PinBar Detector informs that. Kudos to the author. Would like the author to describe it a little more elaborately.
Indicator_Wizard
⋅
@sebastinecc, Thank you for your kind words and appreciation.
To obtain a more detailed description of the PinBar Detector indicator, I recommend visiting the earnforex website . You can find more information about the indicator and its functionality by following this link: earnforex.com/metatrader-indicators/Pinbar-Detector/.