Mathematical Calculation To Find Pinbars?

Trading Systems Expert Advisors and Automated Trading
1

Hello Guys,

got stuck with this problem
i want to find and mark pinbars either hammer or shooting stars
i find few indicators do this but they dont even mark same bars!
and they wrote it on way to complex way for me to understand :15: :46:

i appreciate it if anyone help me out and write mathematical method to find them without making in it too complicate to understand

thank you in advance :slight_smile:

2

“The Pin bar pattern is characterized by a long upper or lower wick with a small body relative to the size of the wick with little to no lower or upper shadows.”

I think it is quite easy to calculate if you define the parameter what the body size is compared to the wick.
diffH = PRICE_HIGH - max(PRICE_OPEN,PRICE_CLOSE)
diffL = min(PRICE_OPEN,PRICE_CLOSE) - PRICE_LOW

if((diffH/abs(PRICE_OPEN-PRICE_CLOSE) > p || diffL/abs(PRICE_OPEN-PRICE_CLOSE) > p)
barIsPinBar=True

where p is the fraction of differences between the two lengths that define a pinbar, so for example p=3 means that the wick is 3 times the length of the body.
You can also stick in the definition that the second wick is smaller than the body to get closer to the original definition.

3

Thank you for code and explaining :slight_smile: