Pin Bar EA

Pin bar properties

This example is for Sell Pin Bar , so the opposite applies to the buy Signal

1. The difference between open and close  price of the bar has to be at least 3 times less than the distance between the close and the low.

2.The bar's low has to be the lowest point in the last 30 bars ,i.e .if you move to the left of the low of that bar .. it has to be the lowest point since at least the last of the 30 bars

3.The difference between the high and the close has to be less than  or equal to 1/3 the distance between the close and the low.

4.Place a buy stop order at the high of the bar as follows
  
GBP/USD = +5 pips 
EUR/USD
= +5 pips
AUS/USD
= +5 pips
EUR/AUD
= +9 pips
GBP/AUD
= +11 pips
GBP/JPY
= +9 pips
EUR/JPY
= +6 pips
USD/JPY
= +5 pips
GBP/CAD
= +11 pips
USD/CAD
= +5 pips



4.Place a TP of half of the pips between the close and the low of the bar. 


5.Place a stop loss as the low of the bar - pips as follows

GBP/USD = -5 pips 
EUR/USD
= -5 pips
AUS/USD
= -5 pips
EUR/AUD
= -9 pips
GBP/AUD
= -11 pips
GBP/JPY
= -9 pips
EUR/JPY
= -6 pips
USD/JPY
= -5 pips
GBP/CAD
= -11 pips
USD/CAD
= -5 pips

6. delete the order if the 3rd or any candlestick after the third candlestick from the bar goes below the stop loss