EA Lab Tutorial – Building a Pin Bar EA
In our previous EA Lab tutorial, we taught you how to build your own Pin Bar EA by understanding the code.
Now, we are going to build a Pin Bar EA without coding – Using EA Lab.
EA Lab is available free if you have an IC Markets account, and trade 20 lots per month.
- More info at the bottom of this article
Step 1: Define a Pin Bar
Bullish Pin Bar
- Bar Close > Bar Open
- Bar Body < 25% of Bar range (high – low of bar)
- Bar Open > (Bar low + 75% of the total bar range)
Bullish Pin Bar (simple explanation)
- Bar close needs to be greater than Bar open (for bullish pin bar)
- Bar body needs to be less than 25% of Bar range (A pin bar has small bodies)
- Bar open needs to be in the top 25% of the of the Bar range.
Build the first condition, ‘Bar Close > Bar Open’
- Take IF block, drag it as shown in the picture, to Green EA ‘Bar’ connector
- ‘Bar’ means start on the ‘close’ of each bar
- ‘Tick’ means start on each tick, which we don’t want, as we only know a pin bar forms at the close
- Take ‘Bar’ block, drag it as shown in the picture
- Change the open and close conditions to: Bar Close > Bar Open
- Remember to change shift to 1
- Shift 1 refers to the bar that just closed. Shift 0 means current un-closed bar
Build the second condition: Bar Body < 25% of Bar range
Build the second condition: Bar Open > (Bar low + 75% of the total bar range)
Remember, you can right click and duplicate each block to quicken the process.
Step 5: Tell the EA to buy when Pin Bar condition is met
Now, you have successfully created your own Pin Bar EA without coding!
Let’s download it into our PC.
Now let’s watch it trade.
I’m glad you have taken the first steps into coding your own EA, without coding knowledge!
Download the Pin Bar EA
Remember to paste the libraries file into your libraries as well.
Getting EA Lab for free
EA Lab is available free if you have an IC Markets account, and trade 20 lots per month. See how here.
You will also get a free VPS to host your EAs 24/7 when you trade 15 lots or more per month.
If you need an IC Markets live account to get access to EA Lab, you can open one through us here
- Comes with institutional commission rate of $5.50
$7for TrueECN accounts, or 8% commission reduction on cTrader
- Apply our partner ID 1441 when opening an account to automatically receive the institutional rate
- More info here