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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
equinivesh
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.