PinBar Strategy EA MT5

The Pinbar strategy is based on the concept of price action, focusing on the candlestick patterns formed on the price chart. A Pinbar consists of a single candlestick with a small body and a long wick on one side. The length of the wick should be at least two-thirds of the entire candle length. This distinctive formation indicates a potential shift in market sentiment. To effectively utilize the Pinbar strategy, traders must be able to identify these patterns on their charts. Look for a candlestick with a small body located at one end of the candle, accompanied by a long wick on the other side. The longer the wick, the stronger the signal of a potential reversal.

Advantages of the Pinbar Strategy

Simplicity: The Pinbar strategy is easy to understand and implement, making it suitable for traders of all experience levels.
Versatility: This strategy can be applied across different currency pairs and timeframes, offering flexibility to traders.
Accuracy: When identified correctly, Pinbars can provide high-probability trade setups, enhancing trading outcomes.

Bullish PinBar.

Bearish PinBar.

Input menu of the "PinBar Strategy EA MT5."

Bullish PinBar settings:

Allow buys - set it to true if you want to allow buy trades.

Trade Bullish candles: simply select whether you want to allow to trade bullish pinbars or not.

Trade Bearish candles: simply select whether you want to allow to trade bearish pinbars or not.

Lower wick size% at_least: lower wick size in% compared to the whole candle size.

Min total candle size pips: this settings allows to avoid very small candles.

Max total candle size pips: this settings allows to avoid very big candles.

Bearish PinBar settings:

Allow sells - set it to true if you want to allow sell trades.

Trade Bullish candles: simply select whether you want to allow to trade bullish pinbars or not.

Trade Bearish candles: simply select whether you want to allow to trade bearish pinbars or not.

Upper wick size% at_least: upper wick size in% compared to the whole candle size.

Min total candle size pips: this settings allows to avoid very small candles.

Max total candle size pips: this settings allows to avoid very big candles.

Lot management options: choose one of the three lot managements and set it to true; the other two must be set to false.

Fixed lot: a simple fixed lot that is applied for each trade.

Martingale: start lot and a multiplier, EA will use a lot multiplier if the previous trade was in loss.

Risk management: select your desired risk percentage per trade, and the EA will automatically calculate the risk size. Stop loss must be used.

Trade comment: use it if you want to add a comment for each trade separately, for example, "PinBar Strategy EA MT5".

Stop loss pips: set a stop loss in pips that will be used for each trade separately.

Take profit pips: set a take profit in pips that will be used for each trade separately.

Max open trades: for example, 10; this will result in a maximum of 10 trades being open at any given time.

BUY SELL REVERSED: With this feature, you can open buy trades instead of sell trades and sell trades instead of buy trades; it's essentially the inverse strategy option.

Close trade opposite signal: use it if you want to close a trade with an opposite signal.

Break even:

Pips on profit to enable: when the desired pips are reached, the break even is applied.

Offset pips from open price: the distance from the trade's open price; for example, by adding an extra 2 pips, you can avoid the size of the spread.

Trailing stop:

Trailing start pips: once the trade reaches this amount of profit, the trailing stop is activated.

Trailing stop pips: the trailing stop distance from the stop loss to the current price.

One trailing step: It's basically how often you want to refresh the trailing stop.

Trading time settings: simply select the time and weekdays on which you wish to trade.

Spread filter: Set the maximum allowable spread size in pips, and the EA will check it before starting the trade. If the spread size is too large, the EA won't place any new trades.

Email and smartphone app notifications: set it to true if you want to get a notification about each new trade.

Magic number: use the magic number rule if this EA is used in more than one chart. Read more.

After you have downloaded the files, insert them properly. Read more.

Download the DEMO version of the "PinBar Strategy EA MT5" and try it in the strategy tester, before purchasing this forex trading robot MT5.

EA has the most used features; we don't want to add too much stuff to the original EA. So we offer custom updates for any of our EAs. You can easily order a custom update and adapt this EA to your specific needs. Contact us, and we will add some basic features for free after your purchase.

If you have any questions simply contact us and we will answer all your questions.

Price:€75

Payment methods: PayPal, Credit Card, Skrill.

With a Paypal or credit card, you can purchase this EA by pressing the "Buy Now" button below. After your successful payment, please contact us, and we will send you a copy of the EA. Your EA will be delivered in a few hours or faster.

If you would like to purchase this EA with a Skrill account, please contact us.

This EA has no limits: