Trading with “Pin Bar” Pattern

This is a simple trading strategy with the pin bar that describes how price action works with this pattern. Pin Bar pattern is one the most used pattern by price ation traders, this strategy designed to work without indicators. This trading system is based on price analysis only on “Pin Bar pattern”.
Rules Trading with “Pin Bar” Pattern without indicators
BUY signal:
A Long entry signal is opened if there are the following conditions :
A closed candle is red;
A difference between the Low and the Close prices is greater than half of the candle (difference between High and Low);
A closed candle is overlapped by the previous candle;
The low price is less than the Low of the previous candle;
Open a buy order if the previous c conditions are met and the price reaches above the High level of the last closed candle.
Stop loss is set 2 pips below the Low price of the last closed candle.
A Trailing Stop is set (default is 15-30 pips depends by time frame ) when the position is profitable.
Sell signal:
A Short entry signal is opened if there are the following conditions :
A closed candle is green;
A difference between the High and the Close prices is greater than half of the candle (difference between High and Low);
A closed candle is overlapped by the previous candle;
The high price is less than the High of the previous candle;
Open a sell order if the previous conditions are met and the price reaches low h level of the last closed candle.
Stop loss is set 2 pips below the High price of the last closed candle.
A Trailing Stop is set (default is 15-30 pips depends by time frame ) when the position is profitable.
Trading with “Pin Bar” Pattern

Trading with “Pin Bar” Pattern

Trading with “Pin Bar” Pattern

Trading with “Pin Bar” Pattern

 Below the link for download pin bar MT4 indicator
https://drive.google.com/file/d/0Bwjv2Pbf48itZFY0akpjTVEyUFE/view?usp=sharing

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