41# Pin Bar trading price action
Pin bar filtered by Value Chart metatrader indicator
Submit by Rommel 23/01/2016
Pin Bar trading price action is an example how to trade with Pin bar in this case filtered by Value chart indicator. The pin bar trading is one the best method of price action.
This system is based on overbought and oversold.
Time frame 5 min or higher.
Financial Markets: any.
For intraday trading do not trading before the economic news.
This trading system is also good for trading with binary options high/low.
Expiry time: 3 candles.
Pin Bar indicators,
Bands (20, 2), optional.
Value chart (ob level 6- os level -8)
Trading rules Pin bar filtered by Value Chart
When the appears the buy alert of the Pin Bar if in the same time the Value Chart indicator is in OS -8, place a buy pending order 1 pips above the high of the pin bar candle.
When the appears the sell alert of the Pin Bar if in the same time the Value Chart indicator is in OB 8, place a sell pending order 1 pips below the low of the pin bar candle.
The best target is ratio 1.25 stop loss or the middle band.
Stop loss 2 pips below/above the bands or 1 pips above/below the Pin Bar candle.
In the pictures Pin bar filtered by Value Chart Metatrader 4 indicator.