How to detect pinbar candles (reversal) before candle closure

frankge973

Tham gia từ May 27, 2016 4bài viết

Apr 27, 2024 at 20:55

Tham gia từ May 27, 2016 4bài viết

Using price action strategy that I'm focusing on, the problem is that I enter always too late.
Strategy works well when there is a rejection but I need to understand before candle closure if that will be a rejection candle (pinbar) or not.
There is an indicator for tradingview or something else to understand this situation ?
Thank you very much

EgoNoBueno

Tham gia từ May 08, 2024 3bài viết

May 11, 2024 at 13:31

Tham gia từ May 08, 2024 3bài viết

Check 5 seconds before closure of the candle to see if there is a high probability that it matches the profile a pin bar. For example, if a M15 candle looks like a pin bar 5 seconds before the bar closes, then take your trading action at the Open of the new next bar.

Argue for your limitations, and sure enough, they are yours.

bardachok

Tham gia từ Feb 12, 2016 127bài viết

May 14, 2024 at 18:52

Tham gia từ Feb 12, 2016 127bài viết

frankge973 posted:
Using price action strategy that I'm focusing on, the problem is that I enter always too late.
Strategy works well when there is a rejection but I need to understand before candle closure if that will be a rejection candle (pinbar) or not.
There is an indicator for tradingview or something else to understand this situation ?
Thank you very much

To anticipate potential rejection candles like pin bars before their closure, you can use leading indicators such as the Relative Strength Index (RSI) or the Stochastic Oscillator in combination with price action analysis. These indicators can provide insights into overbought or oversold conditions, helping you gauge the likelihood of a reversal. Additionally, consider incorporating volume analysis, as spikes in volume during price rejections can validate the strength of the reversal signal. Experiment with different indicators and combinations to find what works best for your strategy and improves your timing of entries.

frankge973

Tham gia từ May 27, 2016 4bài viết

May 15, 2024 at 06:36

Tham gia từ May 27, 2016 4bài viết

bardachok posted:
frankge973 posted:
Using price action strategy that I'm focusing on, the problem is that I enter always too late.
Strategy works well when there is a rejection but I need to understand before candle closure if that will be a rejection candle (pinbar) or not.
There is an indicator for tradingview or something else to understand this situation ?
Thank you very much

To anticipate potential rejection candles like pin bars before their closure, you can use leading indicators such as the Relative Strength Index (RSI) or the Stochastic Oscillator in combination with price action analysis. These indicators can provide insights into overbought or oversold conditions, helping you gauge the likelihood of a reversal. Additionally, consider incorporating volume analysis, as spikes in volume during price rejections can validate the strength of the reversal signal. Experiment with different indicators and combinations to find what works best for your strategy and improves your timing of entries.

Which volume indicator can I use in Tradingview tf M5 ? If thee are spikes in volume it is probably a reversal ?

frankge973

Tham gia từ May 27, 2016 4bài viết

May 16, 2024 at 10:38

Tham gia từ May 27, 2016 4bài viết

bardachok posted:
frankge973 posted:
Using price action strategy that I'm focusing on, the problem is that I enter always too late.
Strategy works well when there is a rejection but I need to understand before candle closure if that will be a rejection candle (pinbar) or not.
There is an indicator for tradingview or something else to understand this situation ?
Thank you very much

To anticipate potential rejection candles like pin bars before their closure, you can use leading indicators such as the Relative Strength Index (RSI) or the Stochastic Oscillator in combination with price action analysis. These indicators can provide insights into overbought or oversold conditions, helping you gauge the likelihood of a reversal. Additionally, consider incorporating volume analysis, as spikes in volume during price rejections can validate the strength of the reversal signal. Experiment with different indicators and combinations to find what works best for your strategy and improves your timing of entries.

I check both Stochastic and RSI but appears not so accurate.....
Tried RSI if over 70 or below 30 in conjunction with price action.
the same for stoch over 80 or below 20...
period 11 because I use M5 TF
but enter trade wrongly or don't trade wrongly
maybe I miss something ?

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How to detect pinbar candles (reversal) before candle closure