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REGISTER PARTICIPANTS Indicator Bermaui Pin Bars Mt4

Discussion in 'Technical Indicators MetaTrader 4' started by Emma McNeill, Nov 2, 2020.

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  1. Emma McNeill

    Emma McNeill Moderator
    Staff Member Organizer

    Aug 5, 2020
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    Bermaui Pin Bars



    Bermaui Pin Bars

    Or (BPB)
    is an indicator that find Pin Bars price action pattern on the chart. Pin Bars is a shortcut for
    "Pinocchio Bars" which is a classic bar pattern alternative to Japanese candlesticks with tall upper or lower shadows and very small
    bodies like Hammer, Inverted-Hammer, Hanging Man, Shooting Star, Dragon Fly Doji or Grave Stone Doji.

    Bermaui Pin Bars indicator find this pattern depending on a formula that can be explained in the next steps:

    • At first BPB calculate the center of the candles body ( = [Open + Close] / 2).
    • Then BPB finds the distance between the center of the body and the candle low.
    • The last step is to divide step 2 results by the candle range.
    • If the candle body center is too close to the high or the low of the candles, then BPB detect a Pin Bar pattern and alert the user.
    • Bermaui Pin Bars Demo: You are not allowed to view links. Register or Login
    • Bermaui Pin Bars Formula: You are not allowed to view links. Register or Login
    I enhanced Bermaui Pin Bars functionality by adding:

    • A Multi Time Frame Candles Direction Panel to tell you the situation of the current candle for all time-frames.
      Where Green dots mean that Close>Open, Red means Close<Open and Yellow means that Close=Open.
    • Bermaui Bands to help you figure out if the current trend is bullish, bearish or neutral. You can read more about it from You are not allowed to view links. Register or Login
    Bermaui Pin Bars Features:

    • Draw Pin Bar patterns on the chart.
    • Help the user to identify the trend depending on MTF Candles Direction Panel plus Bermaui Bands.
    • A well-designed color list with two options (Black / White Background).
    • Sound, email & mobile notifications depending on user's choice.
    Bermaui Pin Bars most important parameters:

    • BPB Colors List: Switch between color lists (Black / White Background).
    • Candles [Min =2]: number of candles used in bands calculations. The default is 50.
    • Deviation Multiplier [>0]: this parameter will help you to control Bermaui Bands width or how much far the bands
      can be away from the center-line. Default is 2.1.
    I hope Bermaui Pin Bars to be a good trading tool for you. If you have any question send me a message and I will answer as soon as I am online.

    the game
    Muhammad Al Bermaui, CMT


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