How to make Pin Bar Custom Indicator in MetaEditor
To make custom use this code in MetaTrader 4 (MT4), follow these steps:
- Prepare the code or script
- Open MetaEditor in MT4 by clicking on "Tools" > "MetaQuotes Language Editor" or by pressing F4.
- Create a new indicator by clicking on "New" in the MetaEditor toolbar.
- Delete the existing code in the editor and replace it with the provided code.
- Save the file by clicking on "File" > "Save" or by pressing Ctrl+S.
- Compile the code by clicking on "Compile" or by pressing F7.
- Close the MetaEditor.
- The indicator will now appear in the "Navigator" window in MT4 under "Indicators" > "Custom."
- Drag and drop the indicator onto the desired chart to apply it.
You can adjust the PinBarThreshold parameter to modify the sensitivity of the Pin Bar detection. The indicator will plot an arrow below the Pin Bar candle, and if enabled, it will trigger an alert based on the selected AlertOn option (e.g., popup, sound, email, notification).
Make sure to test the indicator thoroughly and adjust any parameters as needed before using it in live trading.