This pin bar indicator mt4 is one of the best free pin bar indicators that I’ve found and the download link is on the very bottom of this post.
If you are a new beginner forex trader, trying to identify candlestick patterns like forex reversal candlestick patterns and even pin bars can be difficult at first so indicators like this pin bar detector or the candlestick pattern indicator mt4 are a really useful tools to use.
How This MT4 Pin Bar Indicator Works
When you’ve downloaded this pin bar indicator and uploaded onto your chart, it will look something like this on this chart below:
What you will see are two types of arrows: red arrows pointing down and a green arrows pointing up. The red arrows indicate bearish bin bars and the green arrows indicate bullish pin bars.
Pin bars can form anywhere on any chart, from the 1 minute timeframe to the monthly chart and if your trade entries are based on candlestick patterns, this indicator may be useful. Below, I’ve listed the forex trading strategies on this forex trading site where you can use this pin bar indicator.
Strategies Where The Pin Bar Indicator Can Be Used
The pin bar indicator can be applied to following strategies for buy and sell signal:
- trendline trading strategy
- trendline retest forex trading strategy
- support and resistance forex trading strategy
- diagonal channel forex trading strategy
- floor traders method forex trading strategy
- double top chart pattern forex trading strategy
- double bottom chart pattern forex trading strategy
- trendline trading with 34 ema forex strategy
- 200 ema and stochastic indicator forex scalping trading strategy
- simple GBPUSD eurusd forex scalping strategy
Pin Bar Indicator MT4 Download Link
In case you may be interested: Check out my free forex trading signals and trade setups based on price action. (Click that link) And you can apply this pin bar indicator to these free forex signals.
Here’s the download link. You need to click and download it or save it to your “indicators” folder: PinBar Indicator.