We have made the New Pin Bar Pointer faster, slimmer, and even more accurate. This is the brand new Pin Bar Pointer. A new indicator designed to work together with our other indicators to create an innovative and extremely accurate tool for investors. At heart, The Pin Bar Pointer 2, like its predecessor, is an indicator designed to find and show the most profitable pin bars, but that is not all...

Pin Bar Pointer 2 Settings

• Proportion - equivalent of the tail as compared to the overall size.
• Interval - amount of periods taken into account to find the extreme where the pin bar is located.
• Pin_Bar_Size - minimum size of the pin bars that are taken into consideration in comparison to average bar size. Use this to avoid insignificant bars.

The Pin Bar Pointer 2 will show the pin bars using colored arrows:

• An Up arrow indicates bullish pin bars.
• A Down arrow indicates bearish pin bars.

The colors of the arrows may be easily customized by the user.

These are the basic features of the Pin Bar Pointer 2, and they are very useful and important, however this indicator can do much, much more when coupled with the Dynamic RSI Pointer and the Trend Pointer.

once the user installs the BIG THREE Pointers - the Trend Pointer, the Dynamic RSI Pointer and the Pin Bar Pointer 2 - the Pin Bar Pointer 2 will act as the governing body for all three, all the settings will be available as its own. It will use all the data provided by the other two indicators and base its findings on it.

Another very interesting and useful feature is the Timeframe setting, this feature allows the Pin Bar Pointer 2 to set the timeframes for each indicator to be run simultaneously. For example, Pin Bar Pointer 2 is run in a current timeframe, while The Trend Pointer is run on the H1 timeframe, and The Dynamic RSI Pointer is run on an M15 timeframe.

Trend Pointer Settings

When Trend Pointer is enabled, only the pin bars that follow the trend are shown. This is enabled by setting ‘Use_Trend_Pointer’ to true.

• Min_Trend_Level - minimum level to be considered for analysis.
• Trend_Pointer_Timeframe - indicator timeframe.
• Primary Trend Size - primary size of the trend to be analyzed.
• ​a smaller value means a short-term trend.
• a greater value means a long-term trend.
• Secondary Trend Size - secondary size of the trend to be analyzed along with the primary size of the trend in order to ensure accuracy.
• ​a smaller value means a short-term trend.
• a greater value means a long-term trend.
• Long-term Stability - minimum long-term stability needed to reach the next level.
• Short-term Stability - minimum short-term stability needed to reach the next level.
• Long-term Strength - minimum long-term strength needed to reach the next level.
• Short-term Strength - minimum short-term strength needed to reach the next level.

The Trend Pointer may be found here: https://www.mql5.com/en/market/product/10387

Dynamic RSI Pointer Settings

When Dynamic RSI Pointer is enabled, only the pin bars found in the oversold (for uptrending) and overbought levels (for downtrending) are shown. This is enabled by setting ‘Use_Dynamic_RSI_Pointer’ to true.

• Dynamic_RSI_Pointer_Timeframe - indicator timeframe.
• RSI_Period - number of periods used to calculate the main line.
• LEVELS_Period - number of periods used to calculate the oversold and overbought levels.
• LEVELS_Size - determine how restrictive the oversold and overbought levels are.
• A smaller value means that oversold and overbought levels are more restrictive. The values less than five provide only extreme overbought and oversold signals.
• A larger value means that oversold and overbought levels are less restrictive. This value should be set between 0 and 50.

The Dynamic RSI Pointer may be found here: https://www.mql5.com/en/market/product/7716