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Consecutive bearish and bullish pin bars Rate this Topic:
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bostonbombay
Posted : Saturday, November 3, 2018 6:14:21 AM
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Joined: 6/23/2015
Posts: 20

Hi Bruce,

Can you proviide a set up for three consecutive bearish and bullish pin bar on a these time frames.

5 mins, 30 mins, daily and Weekly.

 

Regards,

MK

Bruce_L
Posted : Monday, November 5, 2018 10:30:52 AM


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Joined: 10/7/2004
Posts: 65,138

Pin bars normally require not only long wicks, but that the wick stick out from the surrounding price action. If this second condition is part of the requirement, I don't think you can actually have more than one in a row.

If you just want say three bars in a row where the open and close are in the top 10% of the bar, we can write that.

TrueInRow(10 * O >= 9 * H + L AND STOC1 >= 90, 3) = 3

With the inverse of that being the following.

TrueInRow(10 * O <= H + 9 * L AND STOC1 <= 10, 3) = 3

You can set the time frame as desired.



-Bruce
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bostonbombay
Posted : Saturday, November 10, 2018 12:07:15 AM
Gold Customer Gold Customer

Joined: 6/23/2015
Posts: 20

Thanks Bruce this is what I was looking for and not an actual pin bar, in short reversal candles.

Appreciate the help.

Regards,

MK

Bruce_L
Posted : Thursday, November 15, 2018 9:59:30 AM


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Joined: 10/7/2004
Posts: 65,138

You're welcome.



-Bruce
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