What is PinBarAlert v1 Indicator?
PinBarAlert v1 is an MT4 indicator that marks candles matching its configured pin-bar conditions. It can display directional arrows on the chart and provide optional alerts when the configured pattern is found.
The pattern settings use body and tail relationships, while the offset controls the arrow position. The markers are visual labels for chart review and do not predict subsequent price behavior.
How to Use It in Practice
Use the indicator to review the configured pin-bar markers:
- Add the indicator to the chart and review the arrows it displays.
- Use the existing PBRatio, PBTail, and TailBarsBack settings to define the displayed pin-bar conditions.
- Adjust Offset if the arrow position needs clearer separation from the candle.
- Enable or disable AlertOn according to whether chart notifications are wanted.
- Compare marked candles with broader chart context without treating an arrow as a directive.
Configured candle shapes are marked directly on the chart, optional alerts can draw attention to newly displayed markers, and existing Inputs provide control over the pattern criteria and arrow placement.
MT4 Indicator Parameters
The screenshot above shows the default input parameters in the MT4 settings window.
| Parameter | Description |
|---|---|
| AlertOn | Enables or disables alert notifications when a pin bar is detected. |
| Offset | Controls how far the arrow is placed from the candle. Adjust for better visibility depending on zoom level. |
| PBRatio | Defines the minimum ratio between the pin bar tail and the body to qualify as a valid pin bar. |
| PBTail | Specifies the minimum percentage size of the tail relative to the entire candle range. |
| TailBarsBack | Number of previous candles used to validate whether the current tail is extreme compared to recent bars. |
| Entry | Defines the entry buffer (in points) above or below the pin bar for potential breakout or entry positioning. |
