Forums Trades News Calendar Market Brokers Login 5:52am Search

C ommercial C ontent / 4 Subscribe Reply to Thread

Options

Search This Thread

Really good indi! PAJ (New Price action indicator!)
Bookmark Thread
Printable Version First Post: Nov 28, 2011 3:42pm | Edited at 3:53pm Quote Post 1
trucheitor | C ommercial Member | Joined Feb 2011 | 27 Posts

PAJ: "Price Action Jonas"

------------------------

This FREE indicator w as developed by jonathan orrego and is mainly used to spot PinBars, but NOT all PinBars are show n.

The indicator show s only "good looking" PB, and you can check the PinBar success w ith the repainting zigzag (12,5,3) indicator to
check if the PB w as good or not.

Here i include some captures (cherry picked of course, but all of them from the last tw o months).

You need the zigzag indicator because its needed to indentify support zones and check confluencies.

Attached File

paj.rar 23 KB | 5,595 downloads

Use our professional PDF creation service at http://www.htm2pdf.co.uk!

Use our professional PDF creation service at http://www.htm2pdf.co.uk!
Use our professional PDF creation service at http://www.htm2pdf.co.uk!
Use our professional PDF creation service at http://www.htm2pdf.co.uk!
 Nov 28, 2011 3:56pm Quote Post 2
trucheitor | C ommercial Member | Joined Feb 2011 | 27 Posts

Please reply this thread... may be w e can find a good strategy to use this indi.

Dec 5, 2011 9:18am | Edited at 9:51am Quote Post 3

Gararda | Joined Nov 2011 | Status: Member | 8 Posts

Hi Trucheitor,

Im very interested in Pinbar setups and I w ant to try your PAJ indicator, but every time I try to use it, my MT4 crash and close
suddenly.
I have attached the ZigZag previously to the chart, so this may not be the cause of the problem.
I have the follow ing version of MetaTrader 4.00 Build 225

Use our professional PDF creation service at http://www.htm2pdf.co.uk!

 Do you have any idea of that problem?

Excuse me for my English.

Dec 6, 2011 4:31pm Quote Post 4

trucheitor | C ommercial Member | Joined Feb 2011 | 27 Posts

Hi Garada!

The Metatrader version must be 4.00 build 402 or above.

All the indicators compiled w ith 402 w orks fine w ith the actual version (409 i think), but the indicators compiled w ith 409 doesnt w ork
in 402.

But you have a 225 build, that should be veeery old. Please if you are using a demo account, just dow nload again the metatrader
from your broker or other broker, or if you are using a live account you can open a demo account for example in IBFX w here i tested
this indicator and it should w ork in that version.
Thanks a lot!
Jonathan

Dec 7, 2011 3:44am Quote Post 5

Gararda | Joined Nov 2011 | Status: Member | 8 Posts

Hi trucheitor,

As you said, as soon as I upgraded my Metatrader to Build 409, the indicator start to w ork perfectly.

I´m going to test the indicator.

Thank you so much.

Dec 10, 2011 8:15am Quote Post 6

sniperfxmy | Joined Dec 2011 | Status: Member | 224 Posts

Quoting trucheitor
PAJ: "Price Action Jonas"
------------------------

This FREE indicator w as developed by jonathan orrego and is mainly used to spot PinBars, but NOT all PinBars are show n.

Use our professional PDF creation service at http://www.htm2pdf.co.uk!

 The indicator show s only "good looking" PB, and you can check the PinBar success w ith the repainting zigzag (12,5,3)
indicator to check if the PB w as good or not.

Here i include some captures (cherry picked of course, but all of them from the last tw o months).

You need the zigzag indicator because its needed to indentify support zones and check confluencies.

Very promising.
I like PB very much!
I like to try.
Dont know w hat is rar?
Can you pls. upload ex4 and mq4 version to ease installation?

Thxs
Cheers

Dec 27, 2011 8:23am Quote Post 7

trucheitor | C ommercial Member | Joined Feb 2011 | 27 Posts

The .rar is a compresed file, you need the "w inrar" softw are.

Mar 14, 2012 6:56pm Quote Post 8

torkay77 | Joined Jul 2010 | Status: Member | 882 Posts

great indie ..but i found a problem...the indie causes metatrader to delete any fibs or lines w hen i sw itch timeframes ...i guess
it's a data refreshing issue

Mar 15, 2012 8:06am Quote Post 9

trucheitor | C ommercial Member | Joined Feb 2011 | 27 Posts

Yes! i used a lot this indie, the problem is that it clears the draw n objects... i have much w ork and i cant spend time to fix this indi...
because this is hobby to me not w ork, i have never earned a dollar from trading forex, i earned money only developing EAs for others
(that never w orks in backtests!)
The problem i see is alw ays the same... i see a potential EA... i develop it and w hen i backtest it and see that it only w orks great for a
year or so... so i cant know if the next year w ill w ork too or if it w ill lose money like for example 2008.
W ith pinbars happends the same, after 17 EAs i still didnt find the best w ay to use them.
This EA filter most of bad pinbars because it only show s certain pinbars that meet some specifications. Confluencies didnt add
profiteability in my tests.

Mar 16, 2012 10:42am | Edited at 1:47pm Quote Post 10

Use our professional PDF creation service at http://www.htm2pdf.co.uk!

 Mar 16, 2012 10:42am | Edited at 1:47pm Quote Post 10
torkay77 | Joined Jul 2010 | Status: Member | 882 Posts

yeah pinbars alone are not profitable...but the pinbars from your ea theme to be pretty good .. you just need some filters to add...

1. pinbars w ith the trend are more reliable then pinbars against the trend...preferable i like to see that the pinbar is touching or
crossing an MA in trend direction for example MA21 or MA50
2. counter pinbars against the trend w ork only if they appear at a major sw ing low or high together w ith a divergence (in rsi or macd
for example)..
3. if i see a strong trend starting w ith 4 or more blue candles in a row i ignore any counter pinbar soon after the trend started.
4. and of course most important is to only enter below /above the close of the pinbar.
5. stop loss should be moved to BE after 30 pips on 1h tf

w ith this rules you can filter out most w rong signals...the only real bad thing about trading pinbars is how to define the targets but
that's one of the hardest things in trading anyw ay...

one thing is noticed the indie very seldoms picks up the good pinbars w ith the trend, maybe cause these pinbars tend to look a bit
crappy

Attached Images (click to enlarge)

Use our professional PDF creation service at http://www.htm2pdf.co.uk!

Use our professional PDF creation service at http://www.htm2pdf.co.uk!
 Dec 13, 2012 10:59pm Quote Post 11
pips4life Joined Apr 2007 | Status: Member | 554 Posts

Hi Trucheitor,

I'm just w ondering if you ever figured out your EA for this Indy. I've just glanced at the signals it marks on the charts. Some of the
filtering it does looks pretty decent.

You make the point that the indy does not repaint. How ever, *w hen* does it exactly indicate the signal? Is it at the close of the
pinbar itself, or does that occur after the NEXT (or tw o?) bar closes? If at the close, that's good. If after the next bar or tw o, not so
good.

Is there a new er version? I notice the w ebsite the EA mentions is now dead. Are you possibly w illing to consider sharing the mq4
source? I w ould w ant to tw eak the algorithm myself to include more signals of bars than w hat it currently flags. W ithout the source, I
could only take w hat it gives and filter those.

A zillion people have thought about and tried pinbar EA's. It's very tough to do. Not sure I can do any better, but I may give it a try.

Dec 14, 2012 7:33am Quote Post 12

trucheitor
Use our professional PDF creation service at http://www.htm2pdf.co.uk!
 trucheitor | C ommercial Member | Joined Feb 2011 | 27 Posts

Hi Pips4Life!

Yes! the pinbar is draw n as soon as it closed. (You dont have to w ait one or tw o more bars).
I've made this indi after reading lot of things about pin bars.

The most important thing about pinbars is how you correctly filter them, thats w hy all the pin bar indicators show s different pinbars. I
have found that my indi show s some great reversal signals that w ould make you rich, but i still cant filter the bad ones and my money
management skills dont compensate the bad side.

I w ork as a metatrader EA and indi programmer, so my code is not available, but if you w ant to include this indi in your ow n EA you
are free to do it as i am releasing this indi as ex4.
I have tw o goals w ith this indi published for free:

1) Hope that someone tell me how to correctly filter the bad signals.
2) Hope that someone ask me for a paid EA, because this indi show s part of my w ork, i have made more that 100 EAs and indis.

The w ebsite is dead because i paid a year of hosting and i had less than 10 visits in that year, so i didnt pay the site renovation as
there w as no public interest in this indi.

Thanks a lot for your comment!

Jan 14, 2013 11:05am Quote Post 13

thekillerpt | Joined Apr 2012 | Status: Member | 3 Posts

i've been trying your indicator and I like it!

is there a new version?

Jan 29, 2013 12:37am Quote Post 14

mikeinvest | Joined Jan 2013 | Status: Junior Member | 1 Post

Hi,

I am interested for your indicator. Can you make an alert message?

regards

Quoting thekillerpt
i've been trying your indicator and I like it!

Use our professional PDF creation service at http://www.htm2pdf.co.uk!

 is there a new version?

May 3, 2013 9:05am Quote Post 15

justbobby007 | Joined Jul 2012 | Status: Junior Member | 2 Posts

Hello:

The indi is really impressive. Yours efforts are really appreciated. I w ant an EA that w ould get into a trade right after the bar close
w ith a 2% risk rew ard ratio. W ould you code that for me. W hat is your quote to program such an EA. Thanks in advance

Sep 8, 2013 3:45pm Quote Post 16

tarun766 | Joined Jan 2013 | Status: Junior Member | 2 Posts

Not all boxes are being draw n on my screen. w hy could this be? and is there a new er version?

Last Post: Apr 7, 2014 9:41am Quote Post 17

Gararda | Joined Nov 2011 | Status: Member | 8 Posts
Similar Threads

Good Hi trucheitor,
books/threads/website
on price action/chart is there any possibility to add an alert option to the indicator?
patterns?
4 replies Regards
Price Activity indicator
(not Price Action)
7 replies C ommercial C ontent / Really good indi! PAJ (New Price action indicator!) Reply to Thread
Shouldn't a good price 0 traders viewing now
action system work on all
time frames?
21 replies
Price Action Indicator
2 replies Top of Page
price action indicator
11 replies

Use our professional PDF creation service at http://www.htm2pdf.co.uk!

 Website Products C ompany C onnect

Homepage Forums About FF

Search Trades FF Blog
Members C alendar C areers at FF
User Guide News Media Kit
Report a Bug Market C ontact FF
Brokers
©2014 Forex Factory, Inc. / Terms of Use / Trade Explorer
Privacy Policy
Forex Factory® is a registered trademark.

Use our professional PDF creation service at http://www.htm2pdf.co.uk!