"PINBAR Breakout Order-kun" provides highly accurate entry!

"PINBAR Breakout Order-kun" provides highly accurate entry!

  • Trigger the trend changePINBAR

The candlesticks that make up the chart are packed with tips on trading. The candlestick is drawn by replacing the price movement within a certain time with 4 real value (open price, close price, high price, low price), so you can grasp the rough price movement by looking at the shape of the candlestick.


One of the most important signals among them is candlesticks with long beards. There are many cases where long beards can be made when they are bounced back without being able to break through the price range of milestones, so there is a high possibility that the trend will change thereafter.


Although it is expressed as beard in Japan, it is called PINBAR overseas. The name is derived from the fact that Pinocchio resembles a long nose when it lies.


In FX, we often hear the term False Breakout, which means a so-called deception breakout. PINBAR often appears when a spear breakout occurs, but pinocchio has a lie and the nose is growing.


PINBAR is an effective signal for changing the market, but not many people actually trade using PINBAR. One of the reasons that PINBAR is different from an indicator is that it is necessary to visually determine the shape of the candlestick.


“PINBAR Breakout Order-kun” is recommended for traders who want to trade using PINBAR but are not good at determining the shape of the candlestick.


“PINBAR Breakout Order-kun” is an EA that can automatically detect the appearance of PINBAR and place orders, and is a support tool that reduces the burden on a wide range of traders as well as beginners who are not familiar with trading.


  • Highly accurate entry tool using PINBAR price action

PINBAR breakout ordering is not just a tool to find PINBAR and enter it into the dark clouds. The biggest selling point is to increase the accuracy of entry by using price action after PINBAR occurs.


Although it is certain that PINBAR emits a valid signal, it is very dangerous to enter immediately on the next leg when PINBAR occurs, because it is highly likely to make a mistake.


In order to avoid this kind of hesitation, PINBAR breakout ordering has an entry condition for the 4 pattern. The feature of each pattern is that the reverse check is performed by the next candlestick after PINBAR occurs.


The image below is the most basic entry pattern for PINBAR breakout ordering. Even if a PINBAR with a lower beard appears, it is not entered immediately, but it is entered after confirming that the next leg has been closed with a positive line.

By actively changing the entry patterns provided for 4, it is possible to improve the entry accuracy and adjust the entry frequency balance.


Specifically, the flow to entry is as follows.


1. A PINBAR with an upper shadow appears

2. Confirm that PINBAR's next candlestick ends with a hidden line

3. Stop limit order 10pips away from closing price


An entry support tool that automatically performs entry up to the limit order is a feature of "PINBAR Breakout Order-kun".


  • Capturing the reversal immediately after the end of New York time by using a time filter

The combination of PINBAR and candlestick is a powerful signal, but the accuracy of the signal is further improved by being aware of the trading time zone.


The exchange market is open for 24 hours, but the New York market, which often moves greatly due to factors such as the number of participating traders and the announcement of important indicators, is particularly emphasized.


When the New York market ends, there are many traders who rush to the market, so changes in market movements often occur. In fact, when PINBAR appears during this time, there are many cases where the signal is highly accurate.


PINBAR breakout orders are equipped with a time filter, so it is possible to ambush during times when trends tend to change temporarily, such as immediately after the end of New York time.


  • Breakeven function keeps profits tight

The PINBAR breakout orderer has a breakeven function, and when a certain unrealized profit is reached, the stop loss automatically moves to a position above the quote price.


When the stop loss moves above the quote price, you will not lose, so you can afford to think carefully about how to settle.


If you think that it is an opportunity after keeping profits firmly, you can formulate a strategy to increase profits, and if you feel that you are going to go backwards, you can settle early.


The break-even function is effective for protecting profits, but it can also function effectively as an aggressive strategy because it can secure the freedom of the strategy.


  • Summary

There are various candlestick patterns that appear on the chart, but PINBAR is simple and easy to understand, so many traders are paying attention.

If you are sitting in front of a computer and trading at your discretion while looking at the charts, you must check the occurrence of PINBAR regularly, which is actually impossible.


Therefore, it is effective to use a tool that monitors the occurrence of PINBAR and supports entry. In addition, PINBAR breakout ordering can be used by switching between 4 entry patterns, so it does not mean that a PINBAR will be generated.


As shown in the image below, the entry accuracy is high because the entry is made after recognizing the pattern of PINBAR and the next candlestick.


After entry, the break-even function will protect your profits, so you can assemble your subsequent trading strategy calmly.


PINBAR breakout ordering is not fully automated trading, but it should be a strong ally for traders who want to get only high-precision entries without entrusting everything to the EA.


PINBAR breakout order
Order support tool using PINBAR price action. Trailing after securing profits.
Order support tool using PINBAR price action. Trailing after securing profits. ? |?
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