Pinoccio: trade those pins

[slowkey]

Ok .... Demo up and running but now I need to read a ton. Started at the setting Steve mentioned. Really sleepy. Will follow up with this tomorrow.

[bernard]

Demo running since V 1a posted.
Pinbars? Yes
Trades? No
Errors? No
Screenshot is attached.

Bernard

[SteveHopwood]

V 1b is in post 1.

I turned off the Moving Average and pivot filters to allow more trading, so the bloops began to appear.

[cuzgeorge]

Thanks Steve, will update now.

Hello Slowkey, been a while, great to see you back.
cuz

[slowkey]

Will update too ... No trades on first version.

[SteveHopwood]

Will update too ... No trades on first version.

Good to see you back. I hope you are feeling better.

Using this ea ootb will not generate many trades - unless ootb happens to reflect my turning off all the extra filters. Not sure if it does. Probably, but not entirely certain.

Even if it does, there is no guarantee that future releases will be the same. Here is the sequence of eventa: I see a problem or someone brings it to my attention; I set up the defaults to help me deal with the problem so I do not have to keep loading up a setfile every time I compile the code; I sort out the problem; I then release an update with said defaults because I do not see why I should do everyone's thinking for them. Only an idiot thinks I will do so.

Users of ea's do need to give a tad of thought to what is going on when they know the coder is not going to think much about them. And anybody been a member here for more than a few weeks really think I am going to show any mercy to a thoughtless member? Dream on.

[slowkey]

Will update too ... No trades on first version.

Good to see you back. I hope you are feeling better.

Using this ea ootb will not generate many trades - unless ootb happens to reflect my turning off all the extra filters. Not sure if it does. Probably, but not entirely certain.

Glad to be back. I been playing a lot with Bobs stuff so "SLOW"-key on getting to this but will play the life out of it as soon as I can get all the reading done. When I know what the theory states and what the thing is supposed to be crawling around my screen and doing. That is if I can tear my self a way from trading Bobs new version.

Doug

[Anonymous]

Hi Steve,

Thank you very much for yet another very interesting ea.

Two suggestions :

1. As trading the PIN BAR is a reversal strategy, rather than waiting for the pin to break a support/resistance to trigger a trade, should it not be the pin either touching/breaking the pivot in bar[1], then close below/above the pivot in bar[0], resulting in a false break or fakey.

2. Rather than entering the trade by using bid/ask, shouldn't we be using a pending order above/below the nose of the pin bar plus buffer (5 to 10 pips) as described in the attached pdf.

Just a thought. Just ignore if my suggestions do not make sense.

peter

[fx800]

Hi Steve,

Thank you very much for yet another very interesting ea.

Two suggestions :

1. As trading the PIN BAR is a reversal strategy, rather than waiting for the pin to break a support/resistance to trigger a trade, should it not be the pin either touching/breaking the pivot in bar[1], then close below/above the pivot in bar[0], resulting in a false break or fakey.

2. Rather than entering the trade by using bid/ask, shouldn't we be using a pending order above/below the nose of the pin bar plus buffer (5 to 10 pips) as described in the attached pdf.

Just a thought. Just ignore if my suggestions do not make sense.

peter

An example is attached.

If not for the wrong time of the day, the pin bar is very tradable.

[Freedom787]

Steve,

I've been watching the EA mark pinbar opportunities over the past couple weeks, and while watching the charts I noticed something I thought I'd share.

I know you don't think much of Renko charts as I've seen your comments in the last Renko EA you coded, but I've been trading a Renko chart for the past few weeks, and I noticed that if you have Renko with Wicks, the wicks present themselves with some decent trading opportunities. Maybe this is outside of the scope of this conversation so don't blast me but I thought it might be interesting if you applied concept of looking for a 8-9 pip wick and then took the same direction of the candle on the candle opening.

The picture attached are 10 pip renkos. If you grab 5-8 pips per trade with a 10 pip SL, I think there could be a good 70% success rate.

I'll start a new thread if this is too far outside the scope of this EA, but I thought while we were measuring and positioning wicks, this may be appropriate.