This overlay strategy marks short-term turning points on the price chart and enters SPY option-style trades from them. It plots simple moving averages of highs and lows, draws up and down reversal arrows, and colors bars when a short-term extreme coincides wit
Strategy · Pine Script v4 · On the chart
Pin Bar Magic v1
This strategy trades price action pin bar patterns aligned with moving average trend alignment on the main price chart.
GitHub stars330on the repository
Pine versionv4older, still runs
Lines of code69
Settings9inputs
LicenceNone stated
Last update2 months ago25 Aug 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Pin Bar Magic v1 defines uptrends or downtrends using a fan arrangement of three moving averages (6 EMA, 18 EMA, and 50 SMA). Entry conditions require a bullish or bearish pin bar that pierces one of the moving averages while maintaining fan alignment. Orders are placed as stop entries, with position sizes calculated dynamically using equity risk percentage and ATR-based stop loss distances. Trades exit using a trailing stop loss, and pending entries automatically cancel after a set period.
- Pin bar candlestick pattern recognition
- Moving average fan trend filter
- ATR-based stop loss and position sizing
- Trailing stop exit management
- Automated entry cancellation after specified bars
Details
Published by
Alorse on GitHub
Type
Strategy, Pine Script v4
Draws
On the price chart
Category
Candlestick patterns, Trend, Moving averages
Markets
Any symbol
Timeframes
M15-H1
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
pinescriptpinescript-indicatorspinescript-strategiestrading-strategiestradingviewtradingview-alerttradingview-strategy
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Equity Risk (%) | int | 3 | usr_risk |
| Stop Loss (x*ATR, Float) | float | 0.5 | atr_mult |
| Stop Loss Trail Points (Pips) | int | 1 | slPoints |
| Stop Loss Trail Offset (Pips) | int | 1 | slOffset |
| Slow SMA (Period) | int | 50 | sma_slow |
| Medm EMA (Period) | int | 18 | ema_medm |
| Fast EMA (Period) | int | 6 | ema_fast |
| ATR (Period) | int | 14 | atr_valu |
| Cancel Entry After X Bars (Period) | int | 3 | ent_canc |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
Similar Pine Scripts
This strategy calculates and plots smoothed Heikin-Ashi candles directly onto the main price chart using exponential moving averages of open, high, low, and close prices. It enters a long position after three consecutive bullish smoothed candles with sequentia
This strategy executes trades based on candlestick engulfing patterns aligned with a 200-period exponential moving average trend filter. It enters long positions when a bullish engulfing candle follows three consecutive bearish candles while price trades above
This strategy combines Ichimoku Kinko Hyo components, a Stochastic oscillator, and specific candlestick patterns to generate trade signals. It identifies Kumo twists and range breakouts while evaluating candle body shapes using Fibonacci threshold filters. Tra
This strategy combines candlestick price action with Exponential Moving Average, RSI, and MACD filters to identify short-term trend trades. A long signal occurs when a bullish candle engulfs the previous open while price remains above the EMA, RSI stays below
Strategy combining EMA and SMA trend alignment with pin bar candle patterns and moving average piercing. It triggers trades in the direction of the moving average fan when a pin bar forms, managing positions using an ATR-based stop loss, pip-based profit targe
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers