How do you know if a price reversal is coming?
Traders often look for market signals, and the pin bar (aka, Pinocchio bar) is a good tool to test the truths and lies of price action.
A pin bar is a single candlestick setup that clues price action trades into potential reversals in the market: This elongated wick “sticks out” from price action. In this indicator, pin bars are candles with wicks more than twice the size of the candle body.
Fake pin bars are candles where the wick is more than two times the size of the candlestick body, but the wick does not “stick out” from the price action.
The Pin Bars indicator draws arrows on the chart to identify pin bar and fake pin bar candles automatically. You can choose the shape and size of the arrows generated by the indicator.
The following are inputs available in the application:
Show Fake Pin Bars: Show/Hide fake pin bars
The application displayed on this page does not take in to consideration your individual personal circumstances and trading objectives. Therefore it should not be considered as a personal recommendation or investment advice. Past performance is not indicative of future results.
There is no guarantee that the systems, trading techniques, trading methods, and/or indicators will result in profits or not result in losses.
This Indicator is only compatible with FXCM Trading Station Desktop software. Additionally, an FXCM account is required (including free FXCM demo accounts).
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