This is a simple strategy based on Doji star candlestick. It places two orders: buy stop at doji star high or previous candle high and sell stop at doji star low or previous candle low. Exit rules are with take profit and fixed stop loss or take profit and stop loss at doji min or max. This strategy works very well with high time frames like Daily and Weekly because those are without noise in doji formation.
Each currency pair has its own optimal setting for TP and SL: it's up to user find the best ones. I could implement SL based on ATR, maybe in next revision.
Please use comment section for any feedback. Next improvement (only to whom is interested to this script and follows me): study with alerts on multiple tickers all at one. Leave a comment if you want to have access to study.
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Two updates: - Long candle before doji star: now the ratio between candle and its body can be customized. - Use Volume filter: this is helpful on higher timefarmes like 1h or 4h because avoid startegy to take trades when a doji is formed with low volume (example after NY close)
So the performances (profit factor and profitable percentage) are improved.
The is good. As a meta trader user I just set a buy stop or sell stop order at the doji/previous candle low/high. I trade just XAUUSD, is 4H TF a recommended time frame? As I rarely trade D1 TF. I’m also following you.
sam7214390300
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The trade log don't match the alerts.
Roadman2022
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if add commission it minus profit.
UnknownUnicorn13633107
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It gave an alert on 4H TF, I opened my chart and I didn’t see any new buy stop/sell stop label/signal. What could be the problem?
ooocamel
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I want not to print Doji text for an invalid Doji candle when using volume as filter.
could you change that please?
RohitMamilla
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It places two orders: buy stop at doji star high or previous candle high and sell stop at doji star low or previous candle low.
how do i know that it is going to place order on doji ore before doji candle is there any logic i am missing
thanks for ur strategy
03.freeman
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@RohitMamilla, buy stop at max(high,high[1]) and sell stop at min(low,low[1])
4ba94e636ce44151aacf39d7234053
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@03.freeman, i am sorry. can you explain it once again? is that a bug/repaint issue? May i know how to have only one open order at any item?