I recently bought the Pin Bar indicator and noticed it was not pointing out some pin bars I have identified in the chart. After trying some configuration and this was still not working I have decided to try extreme and negative settings in order to see the indicator behavior (the idea initially was to have all candle pointed out as pin bar so I could fine tune it).
The indicator started showing most candles as pinbar based on my negative and extreme settings however it was still not showing all bars as it shoul for those extreme set values. Ideally I would like to set a parameter for every bar in the chart and use the very customable features of the indicator to fine tune the best ones.
Please find attached examples of settings that should work properly (as per below) but the indicator was not identifying them. Maybe there is a setting inside other which is preventing the indicator to first check the pin bar then apply the conditions based on the left eye bar.
On the USDJPY chart, on day 09/02/2021 the indicator is not pointing out the doji as pin bar even though the setting is correctly as you can see in the table attached which shows the settings "Nose body position" = 0.5 should show the bar as pin bar since it is within 0.5 as proved in the excel table.
Thanks for the feedback
The following logic is used to identify a bearish Pin Bar in the indicator.
I feel the calculation is more complex then it needs to be and we are still investigating.
I agree with that. Maybe the algorithm should take in consideration first the concept of a pin bar (nose body <= 0.33 ie, and body height <= 0.40 ie) then it should check the other parameters which is mainly compare with previous candle to fine tune the indicator and determine what is a good or a bad pin bar. I feel the algorithm has several primary inputs and this is preventing it to show the obvious pin bars as it is comparing with previous bar first and it should be a fine tune setting.
Is there a way I can get updated in case this is fixed? I am trying to write the code myself but I would be very happy to buy from you guys in case this is fixed.
Thanks in advance.