The Pin Bar Forex indicator for MT4 finds and displays pin bar trading patterns across all currency pairs and time frames.
Pin bars deliver the best results when combined with other trading patterns and/or with technical indicators.
The indicator is lightweight and will not slow down your trading platform.
Buy & Sell Trade Example
- A green arrow represents a bullish pin bar.
- A red arrow represents a bearish pin bar.
The indicator works equally well on all assets (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..) and shows promising results if used correctly.
Free Download
Download the “Pin bar.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Pin Bar mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Pin Bar Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Candlestick pattern
Does the indicator repaint? No.
Pin Bar + Zero Lag MACD Scalping Strategy for MT4
This scalping strategy uses the Pin Bar Forex Indicator together with the Zero Lag MACD Indicator.
A green arrow from the Pin Bar indicator signals a bullish rejection (potential reversal upward), and a red arrow signals a bearish rejection (potential reversal downward).
The Zero Lag MACD gives trend momentum confirmation with its histogram: above zero suggests a bullish trend, below zero suggests a bearish trend.
Combining these two gives clearer entry signals with trend alignment.
This strategy is designed for fast trades on short timeframes — 1-minute, 5-minute, or 15-minute charts.
It works best on major forex pairs like EUR/USD, USD/JPY, GBP/USD, and AUD/USD.
It’s for traders who want high-probability scalps and want to avoid contradictory signals.
Buy Entry Rules
- Confirm the Zero Lag MACD histogram is above zero (indicating bullish momentum).
- Wait for the Pin Bar indicator to plot a green arrow (bullish pin bar reversal) at or near the support area.
- Enter a buy position immediately after the green arrow appears.
- Set the stop loss a few pips below the low of the pin bar candle.
- Target a take profit equal to 1.5× the stop distance, or exit when a red arrow appears (bearish pin bar).
Sell Entry Rules
- Ensure the Zero Lag MACD histogram is below zero (bearish momentum).
- Wait for the Pin Bar indicator to display a red arrow (bearish pin bar) near resistance.
- Open a sell position once the red arrow appears.
- Place the stop loss a few pips above the high of the pin bar candle.
- Set the take profit to 1.5× the stop distance, or exit when a green arrow appears.
Advantages
- Combines price action (pin bars) with momentum confirmation (Zero Lag MACD).
- Helps avoid false pin bars by checking the trend direction first.
- Fast and clear entries suitable for scalping.
- Can adapt to multiple currency pairs and timeframes.
Drawbacks
- In very choppy markets, many arrows and cross-signals may appear.
- Missed entries: By waiting for confirmation, you may enter after part of the move.
- Requires strong discipline and quick execution.
- Stop losses can be hit easily if the breakout is aggressive.
Example Case Study 1 – USD/JPY on M5
During the Tokyo–London overlap, USD/JPY showed upward strength.
The Zero Lag MACD histogram was clearly above zero.
A green arrow from the Pin Bar indicator appeared at 155.20 after a minor pullback.
A buy trade was opened with a stop loss 7 pips below that bar’s low.
The move advanced swiftly, and within 20 minutes, hit a take profit at 10 pips (1.5× risk).
The trade aligned with momentum and showed how the pin bar caught a reversal momentum early.
Example Case Study 2 – AUD/USD on M1
During a volatile US session, AUD/USD was in a down phase.
The Zero Lag MACD histogram fell below zero.
The Pin Bar indicator then produced a red arrow at 0.6725 after a bounce to resistance.
A sell trade was taken with a stop loss 5 pips above the bar’s high.
The pair dropped further and reached a take profit of 7.5 pips (1.5×).
The entry was sharp and effective in a fast market.
Strategy Tips
- Trade during peak volatility hours for better momentum (London, New York).
- Use small lot sizes and risk only a small fraction per trade.
- If price moves strongly, consider trailing the stop to lock in profits.
- If a pin bar appears but momentum is weak (histogram near zero), skip that setup.
This scalping method using the Pin Bar indicator and Zero Lag MACD can give you precise entries with trend alignment.
Always practice on a demo first, fine-tune your parameters, and trade only setups that clearly meet all conditions.
