Pin Bar Indicator By Anupam Anand
Here's what the indicator does and how to use it:
Detection logic — a candle qualifies as a pin bar when: the primary wick ≥ 66% of the total range, the body ≤ 30%, and the opposite (nose) wick ≤ 25%. All three ratios are adjustable in Settings.
Location quality scoring — every pin bar gets scored from −2 to +3:
Good locations add +1 each: forming at a recent swing pivot, within a support/resistance zone, or after a pullback across the trend EMA. Bad locations subtract −1 each: inside a tight consolidation range, or forming against strong one-sided momentum candles. The score drives the star rating and label color (green for ★★★, orange for ★★☆/★☆☆, gray/hidden for weak).
What plots on the chart:
Triangle arrows below/above the candle body
Star-rated labels (★★★ / ★★☆ / ★☆☆ / ⚠)
Highlighted candle background in the signal colour
A thin EMA line for pullback context
Detection logic — a candle qualifies as a pin bar when: the primary wick ≥ 66% of the total range, the body ≤ 30%, and the opposite (nose) wick ≤ 25%. All three ratios are adjustable in Settings.
Location quality scoring — every pin bar gets scored from −2 to +3:
Good locations add +1 each: forming at a recent swing pivot, within a support/resistance zone, or after a pullback across the trend EMA. Bad locations subtract −1 each: inside a tight consolidation range, or forming against strong one-sided momentum candles. The score drives the star rating and label color (green for ★★★, orange for ★★☆/★☆☆, gray/hidden for weak).
What plots on the chart:
Triangle arrows below/above the candle body
Star-rated labels (★★★ / ★★☆ / ★☆☆ / ⚠)
Highlighted candle background in the signal colour
A thin EMA line for pullback context
equinivesh
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
equinivesh
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.