Pinbar Detector

Category: market_structure

Detects Pinbar (Price Action) candlestick patterns based on customizable geometric rules for the Nose and Left Eye bars.

Formula

1. \text{NoseLength} = H_i - L_i \\ 2. \text{NoseBody} = |O_i - C_i| \\ 3. \text{Bullish Condition (Base)}: L_{i+1} - L_i \ge \text{NoseLength} \cdot \text{Protrusion} \text{ AND Body position in top } X\% \\ 4. \text{Bearish Condition (Base)}: H_i - H_{i+1} \ge \text{NoseLength} \cdot \text{Protrusion} \text{ AND Body position in bottom } X\%

Inputs

• CountBars (default: 0)
• DisplayDistance (default: 5)
• UseAlerts (default: true)
• UseEmailAlerts (default: false)
• UseNotificationAlerts (default: false)
• UseCustomSettings (default: false)
• CustomMaxNoseBodySize (default: 0.33)
• CustomNoseBodyPosition (default: 0.4)
• CustomLeftEyeOppositeDirection (default: true)
• CustomNoseSameDirection (default: false)
• CustomNoseBodyInsideLeftEyeBody (default: false)
• CustomLeftEyeMinBodySize (default: 0.1)
• CustomNoseProtruding (default: 0.5)
• CustomNoseBodyToLeftEyeBody (default: 1)
• CustomNoseLengthToLeftEyeLength (default: 0)
• CustomLeftEyeDepth (default: 0.1)
• CustomMinimumNoseLength (default: 1)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.