| PART | Section | Description | ||
|---|---|---|---|---|
| 1 | INTRODUCTION | Product introduction, what the product helps you with | ||
| 2 | INSTALLATION & SETUP | System requirements, step-by-step installation guide | ||
| Guide to Installing Free Indicators and EAs Included with the Mirage Trading System Purchase | ||||
| 3 | INTERFACE DISPLAY | Explanation of the components displayed on the chart | ||
| User Guide: Trading Lines & Signal Tracking System | The system automatically draws Entry, Stop Loss, and Take Profit lines (TP 1–4) on the chart, tracks price action for hits, records Win/Loss results, and displays real-time performance statistics. | |||
| User Guide : Visualization, Zone Fill, Signal Dashboard & Cancelled Signals | When you attach an indicator to a chart, the system renders the following visual components for each detected signal | |||
| User Guide: MTF SCAN & Dashboard User Guide | MTF SCAN automatically scans all Market Watch symbols across 8 timeframes (M1 to W1) and displays results on a Dashboard grid directly on your chart. | |||
| User Guide : Chart Theme User Guide | Chart Theme is a feature that changes the entire chart color scheme in MetaTrader 5 — including the background, candles, grid, text, and Bid/Ask lines — with a single click. | |||
| 4 | CORE CONCEPTS | Fundamental concepts that the system is built upon | ||
| User Guide: Market Structure Functionality in the Trading System | Identifies trend direction (Uptrend, Downtrend, Ranging) by analyzing swing highs/lows, and detects key events: BOS (trend continuation) and CHoCH (potential trend reversal). | |||
| User Guide : Signal Types, States, and Lifecycle | A signal is the system's notification when it detects a qualifying candlestick pattern on the chart. Each signal tells you the expected price direction and provides suggested entry, stop loss, and take profit levels. | |||
| 5 | SIGNAL FILTERS | Filters that refine and validate trading signals | ||
| User Guide: Trade Direction (Direction Filter) in the Trading System | Defines the allowed trading direction (Buy only, Sell only, both, or neither) as the first filter before searching for entry signals, based on current market trend. | |||
| User Guide: Signal Zone Filter in the Trading System | Eliminates signals not near important price zones, retaining only those connected to market structures (swing high/low, BOS, CHoCH) to reduce noise. | |||
| User Guide: StoplossHunt Filter User Guide — Filtering "SL Sweep" Signals | Identifies higher-probability signals by checking whether price "swept stoploss" before forming a pattern. | |||
| User Guide : Extreme Zone Filter | Extreme Zone Filter is a signal filtering feature that helps avoid entering trades when price is at the top or bottom of a Donchian price channel. | |||
| User Guide: Opposite Signal Filter | The Opposite Signal Filter is an automatic feature that prevents new signals from appearing when you already have an active trade running in the opposite direction.The principle is very simple: Don't buy when you're selling. Don't sell when you're buying. | |||
| User Guide : Quality Filter User Guide | Quality Filter is a feature that helps you receive only the best signals — price patterns formed clearly, with balanced proportions and high reliability — and reject weak signals, dull patterns, and those below standard. | |||
| 6 | TRADE MANAGEMENT | |||
| User Guide : Risk/Reward & SL Method User Guide | Risk/Reward (R:R) is the ratio between the amount of money you accept losing (Risk) and the amount of money you expect to gain (Reward) in a single trade. | |||
| User Guide: Trailing Stop Loss (TSL) User Guide | Regular Stop Loss (SL) stays fixed in one place. You set SL at 1990.00, and it stays there forever — even if price has risen to 2030.00.Trailing Stop Loss (TSL) is different. It automatically moves in your favor when price advances. As price moves up, TSL moves up with it. When price stalls or reverses, TSL holds the best position it reached. | |||
| 7 | CONFIGURATION PARAMETERS GUIDE | Detailed guide to each configuration parameter | ||
| SIGNAL SCANNING CONFIGURATION GUIDE - MIRAGE TRADING SYSTEM EA | Guide to mastering signal scanning settings within the Inputs tab, optimizing trade discovery on a single chart or across the entire market. | |||
| 8 | ALERTS & NOTIFICATIONS | |||
| User Guide: Alerts & Notifications User Guide | Configure push notifications, and on-screen popups when new signals are detected. | |||
| 9 | SYSTEM RISKS & LIMITATIONS | Notes on system risks and limitations |
1. INTRODUCTION
Indecision Detection with Dual-Shadow Analysis
Author: Ich Khiem Nguyen | MQL5: https://www.mql5.com/en/users/khiemni/seller
What is SpinningTopTradingSystem?
SpinningTopTradingSystem detects Spinning Top indecision candles on your MetaTrader 5 charts automatically. The indicator scans every completed bar for the characteristic small-body-with-long-shadows structure, validates shadow symmetry and proportions through 7 quality gates, and shows you only the setups that pass all checks with clear entry points, stop losses, and profit targets already calculated. It works on any market and any timeframe.
What Are Spinning Top Patterns?
The Spinning Top is a single-candle indecision pattern that signals uncertainty and a potential shift in market direction. Unlike a Doji where the body is nearly nonexistent, a Spinning Top has a small but visible body — enough to show slight directional pressure, but not enough for either side to claim victory. Both upper and lower shadows extend significantly from the body, showing that buyers and sellers each pushed price away from the open/close area during the session. The result is a candle that looks like a spinning top toy: a small core with long extensions on both ends.
Bullish Spinning Top
A Spinning Top where the close is above the open (green/bullish body) after a downtrend suggests buyers are beginning to resist further selling. A Buy Stop is placed at the candle High with an ATR buffer — price must break above the upper shadow resistance before entry triggers.
The more symmetric the shadows and the smaller the body relative to ATR, the stronger the indecision signal. High-quality Spinning Top patterns at support zones often precede bullish reversals.
Bearish Spinning Top
A Spinning Top where the close is below the open (red/bearish body) after an uptrend suggests sellers are beginning to resist further buying. A Sell Stop is placed at the candle Low with an ATR buffer — price must break below the lower shadow support before entry triggers.
How the Indicator Finds Patterns
The indicator scans your charts in real-time and checks each potential pattern against 7 quality gates:
- Verifies the candle is NOT a Doji (body/ATR must exceed 0.02) — Spinning Tops have a small but visible body, unlike Doji patterns where open and close are virtually equal
- Checks that the body is small relative to ATR (body/ATR between 0.03 and 0.25-0.35 depending on preset) — confirming this is an indecision candle, not a trending bar
- Validates the total candle range is meaningful relative to ATR (range/ATR above threshold) — filtering out tiny candles in consolidation
- Ensures both upper and lower shadows are significant (each must be at least 18-20% of the total range) — confirming price was pushed in both directions
- Confirms the combined shadow length dominates the body (shadow-to-body ratio above threshold) — the defining characteristic that separates a Spinning Top from regular small-body candles
- Checks wick asymmetry — the absolute difference between upper and lower shadow lengths divided by range must be below the threshold, ensuring the characteristic balanced appearance
- Applies 6-factor quality scoring — only patterns meeting the minimum quality threshold appear on your chart
Only patterns that pass all seven gates appear on your chart, so you don't waste time on weak or invalid setups.
Quality Score — How Good Is the Pattern?
Every pattern gets a quality score from 0.00 to 1.00. This helps you focus on the best trading opportunities.
What the Score Means
The indicator evaluates six aspects of each Spinning Top pattern. It checks how small the body is relative to ATR (deeper indecision), whether the combined shadow length properly dominates the body, how balanced the upper and lower shadows are (wick symmetry), whether the candle range is significant relative to recent volatility, the spinning top range compared to the prior bar range, and how the close position relates to the prior bar's range. Each factor is weighted by importance, and the combined score tells you at a glance how textbook-perfect the pattern is.
- Grade A (0.80 - 1.00) — Excellent: Best signals, highest probability setups
- Grade B (0.60 - 0.79) — Good: Reliable setups worth trading
- Grade C (0.40 - 0.59) — Average: Needs additional confirmation from price action
- Grade D (0.20 - 0.39) — Below Average: Risky, use with caution
- Grade F (0.00 - 0.19) — Poor: Avoid trading these signals
Quality Threshold Setting
By default, the indicator only shows patterns scoring 0.30 or higher. You can adjust this in the settings:
- Raise to 0.50-0.60: See only the best signals (fewer but higher quality)
- Lower to 0.15-0.25: See more signals (more frequent but mixed quality)
- Tip: Start with the default 0.30 and adjust based on your backtest results
What You See on the Chart
When the indicator detects a Spinning Top pattern, it draws everything you need to know directly on the chart:
Signal Markers
- Arrow icons: Green upward arrows for bullish signals, red downward arrows for bearish — placed at the pattern candle. Gray arrows indicate signals blocked by an active filter.
- Quality labels: A numeric score (e.g., "0.68") appears near each signal, showing how strongly the pattern scored across all six quality factors
Trading Lines
- Entry line: An orange horizontal line placed at the Spinning Top High (bullish Buy Stop) or Low (bearish Sell Stop), with entry buffer = 0.05 x ATR
- Stop Loss line: A red horizontal line on the opposite side of the candle (Low for bullish, High for bearish), with SL buffer = 0.30 x ATR
- Take Profit lines: Up to four green horizontal lines, labeled TP1 through TP4, calculated at 1.0R, 2.0R, 3.0R, and 5.0R reward multiples respectively
Visual Zones
- Pattern highlight: A shaded rectangle spans the Spinning Top candle, helping you instantly see the pattern. Risk zone between entry and SL is shaded in red; reward zones between entry and each TP level are shaded in progressively lighter green.
- Tracking dots: Small colored dots trail the signal and change color as it evolves — white for pending, yellow for triggered/active, green for target hit, red for stop hit
Signal Lifecycle
Signals progress through different states, shown by changing colors and tracking dots:
- Pending: Pattern just detected, waiting for entry confirmation
- Triggered: Entry price reached, trade is active
- Target Hit: Price reached take profit level (signal turns green)
- Stop Hit: Price hit stop loss (signal turns red)
- Cancelled: Signal invalidated before entry (signal disappears or grays out)
You can watch your signals evolve in real-time without opening any menus or panels.
Settings You Can Adjust
Here are the main settings that control how the indicator finds and displays Spinning Top patterns:
| Setting | What It Does | Default | When to Change It |
|---|---|---|---|
| ATR Period for volatility | Number of bars used to calculate ATR, which normalizes all thresholds to current market volatility | 14 | Increase to 20+ for smoother measurement on noisy markets; decrease for faster response |
| Max Bars to Scan (history depth) | How many historical bars the indicator scans on first load to find past patterns | 3000 | Increase for more history; decrease to speed up loading |
| Min Bars Between Patterns | Minimum gap between two consecutive signals, preventing overlapping signals | 5 | Increase to 7-10 if signals cluster too closely |
| Detection Preset | Standard (~50% pass rate), Strict (~15%), or Custom | PRESET_STANDARD | Switch to Strict for higher conviction; use Custom to fine-tune |
| Quality Score Filter | Only patterns scoring at or above threshold appear | true | Disable only for study/research |
| Min Quality (0.0-1.0) | Minimum quality score threshold | 0.30 | Raise to 0.50+ for fewer stronger signals |
| [Custom] Min Body/ATR (Std=0.03, Strict=0.03) | Minimum body size relative to ATR — must exceed 0.02 to distinguish from Doji | 0.03 | Rarely needs adjustment |
| [Custom] Max Body/ATR (Std=0.35, Strict=0.25) | Maximum body size relative to ATR — lower = stricter small-body requirement | 0.35 | Decrease to 0.25 for stricter spinning top definition |
| [Custom] Min Range/ATR (Std=0.40, Strict=0.50) | Minimum candle range relative to ATR — ensures meaningful size | 0.40 | Increase to 0.50+ for larger, more significant candles |
| [Custom] Min Upper Shadow Ratio (Std=0.18, Strict=0.20) | Minimum upper shadow as ratio of range | 0.18 | Increase to 0.20+ for longer shadow requirement |
| [Custom] Min Lower Shadow Ratio (Std=0.18, Strict=0.20) | Minimum lower shadow as ratio of range | 0.18 | Increase to 0.20+ for longer shadow requirement |
| [Custom] Min Shadow/Body Ratio (Std=1.00, Strict=1.50) | Minimum combined shadow to body ratio — higher = shadows more dominant | 1.00 | Increase to 1.50 for stricter shadow dominance |
| [Custom] Max Wick Asymmetry (Std=0.40, Strict=0.35) | Maximum imbalance between upper and lower shadows — lower = more symmetric | 0.40 | Decrease to 0.35 for strictly balanced shadows |
| SL Buffer (xATR) | Extra buffer added beyond pattern extreme for stop loss | 0.30 | Decrease to 0.10-0.15 for tighter stops on less volatile markets |
Settings Tips
- Start with all default settings and let the indicator run for a few days to see performance on your preferred market and timeframe
- If you get too many signals, switch Detection Preset to Strict or raise Min Quality to 0.50
- If signals are too rare, keep Standard and consider lowering Min Shadow/Body ratio to 0.80 or raising Max Body/ATR to 0.40
- The key difference between Spinning Top and Doji is body size: Spinning Top has a visible body (bodyATR > 0.02), while Doji has virtually no body
- Shadow/Body ratio is the most distinctive gate — it ensures both shadows together are significantly longer than the body
- Always backtest any setting changes before using them on a live account
Best Timeframes and Markets
Recommended Timeframes
- M15 — Quality: Medium | Frequency: High | Best for: Scalpers who want frequent intraday indecision signals
- H1 — Quality: High | Frequency: Medium | Best for: Day traders catching indecision at intraday pivots
- H4 — Quality: High | Frequency: Lower | Best for: Swing traders who want well-formed spinning top patterns at key structure levels
- D1 — Quality: Highest | Frequency: Low | Best for: Position traders seeking textbook-quality signals at major daily levels
Best Markets
- XAUUSD (Gold): Spinning Top patterns form frequently at key support/resistance zones on H1 and H4 — indecision at pivot levels often precedes significant directional moves
- Major forex pairs (EURUSD, GBPUSD, USDJPY): Good signal quality on H1 and above, especially at session boundaries where market sentiment shifts
- Indices (US30, NAS100): Indecision at daily structure zones; best on H1 and H4
- Oil (USOIL): Spinning Top patterns form at key supply/demand zones after volatile moves
The indicator works on any symbol and timeframe, but these combinations tend to produce the most reliable signals.
Getting Started — Quick Setup
Follow these steps to start using SpinningTopTradingSystem:
- Open MetaTrader 5 and load your chart (recommended: XAUUSD on H1 or H4 for the clearest initial signals)
- In the Navigator panel (Ctrl+N), expand 'Indicators' -> 'Custom' and find SpinningTopTradingSystem
- Drag the indicator onto your chart
- In the settings dialog, select your preferred Detection Preset (Standard recommended for beginners) and click OK — the indicator will scan history and display detected patterns immediately
- Watch for new signals forming in real-time — colored candles with arrows indicate Spinning Top patterns; check the quality score label to gauge signal strength
- After observing several signals, adjust the Min Quality threshold if needed
- Optional: Enable alerts in the ALERTS section for popup or push notifications
That's it! The indicator is now scanning your charts automatically and will alert you when high-quality Spinning Top patterns appear.
All Features at a Glance
- Automatic Spinning Top indecision pattern detection on any symbol and timeframe
- 7-gate detection: Doji exclusion, body/ATR range, range/ATR, upper shadow, lower shadow, shadow/body, wick asymmetry
- 6-factor weighted quality scoring (bodyATR 0.25, shadowToBody 0.25, wickAsymmetry 0.20, rangeATR 0.15, relativeRange 0.10, closeVsPrev 0.05)
- 3 detection presets: Standard (~50% pass rate), Strict (~15% pass rate), Custom (user-defined)
- Spinning Top vs Doji boundary enforcement (bodyATR > 0.02)
- Signal states and lifecycle tracking (Pending -> Active -> Finished)
- Quality filter to reject weak patterns below threshold
- Extreme zone filter (overbought/oversold rejection)
- Stoploss hunt filter (liquidity sweep validation)
- Opposite signal filter (prevent conflicting signals)
- Risk/Reward with 3 stop loss methods (Donchian, ATR, Pattern)
- Up to 4 take profit levels (TP1-TP4) at 1R, 2R, 3R, 5R
- Donchian Channel trailing stop loss
- MTF Scanner (up to 150 symbols x 8 timeframes)
- Market structure analysis (BOS / CHOCH)
- 4-channel alert system (popup, sound, push, email)
- Signal statistics dashboard
- Professional chart themes (Dark, Light, Custom)
- EA signal buffers for automated trading
For detailed guides on each feature, see the MANUAL included with the indicator.
Common Questions
Q: What's the difference between a Spinning Top and a Doji?
Both are indecision candles, but they differ in body size. A Doji has virtually no body (open = close), while a Spinning Top has a small but visible body (body/ATR between 0.03 and 0.25). This indicator enforces the boundary: candles with body/ATR below 0.02 are classified as Doji and excluded from Spinning Top detection. The small body in a Spinning Top shows slightly more price commitment than a Doji, but still insufficient for either side to dominate.
Q: What's the difference between Standard and Strict presets?
Standard allows more signals (~50% of candidates pass) with relaxed thresholds — good for more trading opportunities, especially on intraday timeframes. Strict uses tighter specifications (~15% pass rate) requiring stronger shadow dominance (1.50 vs 1.00), larger range (0.50 vs 0.40 ATR), and tighter symmetry. Start with Standard and switch to Strict if you prefer quality over quantity.
Q: How does wick asymmetry work?
Wick asymmetry measures how balanced the upper and lower shadows are. It is calculated as |upper shadow - lower shadow| / total range. A value of 0 means perfectly symmetric shadows, while higher values indicate imbalance. The Standard preset allows up to 0.40, while Strict requires 0.35 or less. This distinguishes a proper Spinning Top (balanced shadows) from a Hammer or Inverted Hammer (one dominant shadow).
Q: Why use a pending entry instead of market order?
Spinning Tops represent indecision — the market hasn't decided direction yet. A pending stop order (Buy Stop above high, Sell Stop below low) ensures you only enter when price confirms the directional breakout from the indecision zone. This approach avoids entering prematurely on candles that may just consolidate further.
Q: How do I reduce the number of false signals?
Enable the Quality Filter (default 0.30) and raise it to 0.50+ for fewer but stronger signals. Switch to Strict preset for tighter shadow dominance and symmetry requirements. Enable the Direction Filter to only accept signals aligned with the overall trend. Consider increasing Min Bars Between Patterns to avoid signal clusters.
What's New — Version 1.00
This is the 1.00 release of SpinningTopTradingSystem. Key features include:
- Spinning Top indecision pattern detection with 7-gate validation across all timeframes and symbols
- 6-factor quality scoring system evaluating body/ATR, shadow dominance, wick symmetry, range significance, relative range, and close position
- Standard and Strict detection presets, plus fully customizable threshold mode
- Spinning Top vs Doji boundary enforcement (bodyATR > 0.02)
- 7-layer filter system (Quality, Extreme Zone, Direction, Stoploss Hunt, Signal Zone, Market Structure, Opposite Signal)
- Multi-timeframe scanner covering up to 150 symbols and 8 timeframes simultaneously
- Automated Entry/SL/TP trading levels with Donchian Channel trailing stop
- 4-channel alert system (popup, sound, push notification, email)
- EA signal buffers enabling automated trading systems to consume signals directly
- Professional chart themes (Dark, Light, Custom)
Getting Help
If you have questions or need support:
- Documentation: Check the detailed user guides linked in the Features section above
- MQL5 Profile: https://www.mql5.com/en/users/khiemni/seller
- Direct Contact: Message me through MQL5 for technical support
I'm committed to helping you get the most out of this indicator.
Ready to Start?
SpinningTopTradingSystem is designed to save you time and help you find high-probability indecision patterns automatically. The pending entry model ensures you only enter when price confirms direction from the indecision zone — no more guessing on neutral candles. Attach the indicator to your chart and start with the default settings.
Happy trading!
Ich Khiem Nguyen
SpinningTopTradingSystem 1.00 — Created 2026-02-23
