Long Legged Doji Trading System

Long-Legged Doji Trading System — Indecision Detection with Confirmation Model [MANUAL]

Bonus indicator included for early Mirage Trading System owners. Please confirm via MQL5 message to receive your gift . 

Note: Each user is eligible for a maximum of one gift to ensure fair distribution.

Introductory Pricing: This indicator is offered at introductory pricing that increases based on sales milestones. The current price is $49. After 10 sales, the price increases to $59. After 30 sales, it increases to $69. After 60 sales, the final price of $79 takes effect. All buyers receive the same full-featured indicator regardless of purchase price.

This indicator identifies Long-Legged Doji formations by analyzing the relationship between body size, shadow symmetry, and range significance, then waits for a confirmation candle to determine signal direction. The Long-Legged Doji has a tiny body near the center with equally long upper and lower shadows, representing extreme market indecision where neither bulls nor bears could maintain control.

This indicator detects Long-Legged Doji formations on any symbol and timeframe, draws automated Entry/SL/TP trading levels after confirmation, and tracks signal performance in real-time. Includes a multi-timeframe scanner monitoring up to 150 symbols across 8 timeframes simultaneously.

Included Tools

Each Long-Legged Doji Trading System purchase includes access to the following companion tools at no additional cost:

1. Smart Trend Consensus MT5 — Multi-timeframe trend agreement indicator that combines signals from multiple trend methods to produce a single directional bias per timeframe. https://www.mql5.com/en/market/product/160553

2. Price Volume Distribution MT5 — Volume profile and price distribution analysis tool that identifies high-activity price zones and value area boundaries on any symbol and timeframe. https://www.mql5.com/en/market/product/160452

3. Long-Legged Doji Trading System EA — Automated signal execution expert advisor that reads the indicator's signal buffers and places trades based on detected Long-Legged Doji patterns. (Delivered via MQL5 private message after purchase confirmation.)

How Long-Legged Doji Detection Works

The indicator evaluates each completed bar against a defined set of structural rules using a two-bar confirmation model:

1. Body/ATR analysis: The candle body must be very small relative to the Average True Range (body/ATR ratio below threshold), confirming the open and close are nearly equal — the hallmark of a doji candle.
2. Range validation: The total candle range must exceed a minimum threshold relative to ATR, confirming the formation represents meaningful price movement rather than a tiny candle in consolidation.
3. Upper shadow extent: The upper shadow must be at least a minimum percentage of the total candle range, confirming significant price rejection from above.
4. Lower shadow extent: The lower shadow must be at least a minimum percentage of the total candle range, confirming significant price rejection from below.
5. Wick symmetry: The absolute difference between upper and lower shadow lengths, divided by total range, must be below the symmetry threshold. This is the defining gate that distinguishes Long-Legged Doji from Dragonfly (long lower only) and Gravestone (long upper only) variants.
6. Confirmation candle: The next bar (N+1) must close with a clear directional bias — bullish close confirms a buy signal, bearish close confirms a sell signal.

6-Factor Quality Scoring

Each pattern that passes detection receives a score from 0 to 100 based on six weighted factors:

• Body/ATR (weight: 0.30): how small the body is relative to ATR — smaller means purer doji
• Range/ATR (weight: 0.25): how large the candle range is relative to recent volatility — larger means more significant
• Wick symmetry (weight: 0.20): how balanced the upper and lower shadows are — more balanced means stronger indecision
• Body position (weight: 0.10): where the body sits within the candle range — center position (0.50) is ideal (Rickshaw Man)
• Relative range (weight: 0.10): how the doji range compares to the prior 10-bar range
• Close vs prior (weight: 0.05): deviation of confirmation close from prior bar midpoint

Two detection presets are available. Standard mode applies relaxed thresholds and passes approximately 10% of formations. Strict mode tightens all gates including wick symmetry and passes approximately 1.4% of formations, selecting only the most symmetric and well-formed indecision candles.

Pattern-Specific Settings

• Max Body/ATR: maximum allowed body size relative to ATR to qualify as a valid doji
• Min Range/ATR: minimum candle range as a multiple of ATR to qualify as significant
• Min Upper Shadow Ratio: minimum upper shadow length relative to total candle range
• Min Lower Shadow Ratio: minimum lower shadow length relative to total candle range
• Max Wick Symmetry: maximum allowed shadow imbalance (0 = perfect symmetry, 1 = completely one-sided)
• Detection Preset: Standard or Strict
• Quality Score Minimum: filter signals below a defined score threshold

Automated Trading Levels

Every detected pattern automatically draws Entry, Stop Loss, and up to 4 Take Profit levels (TP1-TP4) directly on the chart after confirmation. For bullish signals, Entry is a Buy Stop above the Doji High; for bearish signals, Entry is a Sell Stop below the Doji Low. Stop Loss is placed on the opposite side of the Doji with an ATR buffer. Take Profit levels are spaced at 1R, 2R, 3R, and 5R multiples of the SL distance. Stop Loss can be calculated using one of three methods: Donchian Channel (recent price structure), ATR (volatility-based), or Pattern (Doji extreme with buffer).

Live Signal Tracking

The indicator tracks each signal from detection through completion. Signal states include: Pending (entry order not yet triggered), Active (trade entered, tracking in progress), TP Hit (one or more take profit levels reached), SL Hit (stop loss triggered), and Expired (signal invalidated without entry). All state transitions are logged in the signal statistics dashboard.

Donchian Channel Trailing Stop

An optional trailing stop system uses the Donchian Channel as a dynamic stop level that moves with price as the trade progresses. For bullish trades, the channel lower band trails upward, locking in profit. For bearish trades, the upper band trails downward. This trailing method can be used independently or alongside fixed TP levels.

Multi-Timeframe Scanner (150 Symbols x 8 Timeframes)

Monitor patterns across the entire market from a single chart. The scanner checks up to 150 symbols across 8 timeframes simultaneously and displays results in a sortable panel. Each row shows symbol, timeframe, signal direction, quality score, and current signal state. Symbols are loaded from MT5 Market Watch. Scanner updates asynchronously to avoid blocking chart calculations.

Market Structure Analysis (BOS / CHOCH)

Built-in Break of Structure and Change of Character detection identifies key swing points and labels structural shifts on the chart. BOS marks continuation when price breaks a prior swing. CHOCH marks a potential reversal when price breaks structure against the trend. These labels provide context for evaluating whether a Long-Legged Doji signal aligns with market structure.

Multi-Layer Signal Filtering

Five independent filters can be enabled or disabled individually to control which detected patterns are displayed:

1. Trend filter: only show signals aligned with the higher-timeframe trend direction
2. Volume filter: require above-average volume on the pattern candle to confirm institutional participation
3. Session filter: restrict signals to defined trading sessions (London, New York, Tokyo, Sydney)
4. Volatility filter: exclude signals during extreme volatility or very low-volatility consolidation
5. Market structure filter: only show signals at confirmed swing points or after structural confirmation

4-Channel Alert System

Never miss a signal. Alerts are delivered through four independent channels: MT5 pop-up notification, MT5 push notification to mobile app, email alert, and sound alert with selectable audio file. Alerts fire at pattern detection and optionally at entry trigger, TP hits, and SL hit.

Signal Statistics Dashboard

A draggable panel displaying real-time performance metrics for signals detected in the current session and historically. Metrics include: total signals detected, entry trigger rate, TP1/TP2/TP3/TP4 hit rates, SL hit rate, average quality score, win rate by timeframe, and success rate. The dashboard updates automatically as signal states change.

Professional Chart Themes

Built-in color schemes allow switching the indicator's visual style to match different chart backgrounds. Available themes include Dark, Light, and Minimal. Each theme adjusts the color palette for pattern markers, trading level lines, scanner panel, and dashboard text. Custom color overrides are available through the inputs panel.

EA Signal Buffers

Indicator outputs are available as data buffers for Expert Advisors. Buffer 0 outputs the signal direction at the bar where a pattern is confirmed. Buffer 1 outputs the quality score. Buffer 2 outputs the Entry price. Buffer 3 outputs the Stop Loss price. Buffers 4 through 7 output TP1 through TP4 prices. An EA can read these buffers using iCustom() to build automated strategies without modifying the indicator source.

Recommendations

Timeframes: M15, M30, H1, and H4 provide consistent pattern frequency and reliable confirmation. Lower timeframes generate more signals with higher false-signal risk; higher timeframes produce fewer but structurally cleaner formations.

Symbols: The indicator works on any symbol available in MT5 Market Watch. Long-Legged Doji formations are commonly observed on Forex major and minor pairs, XAUUSD, stock indices, and cryptocurrency pairs, particularly at trend exhaustion points and key support/resistance levels.

Installation:

1. Copy the indicator file to the MQL5/Indicators directory in the MT5 data folder.
2. Restart MetaTrader 5 or refresh the Navigator panel.
3. Locate Long-Legged Doji Trading System under Custom Indicators in the Navigator.
4. Drag the indicator onto a chart and configure inputs as needed.
5. For the scanner, attach the indicator to a single chart; it will monitor all configured symbols automatically.

Notes:

• No repainting: signals are confirmed only on bar close (after confirmation candle completes) and do not change after detection.
• Bar-close processing only: the indicator evaluates each bar once at close, following R-46 per-bar processing standards.
• Scanner operates asynchronously and updates in the background without affecting chart rendering performance.
• Memory usage is optimized for long-running sessions; object pooling is used for all chart drawings.

Documentation and User Guides

Detailed guides for each feature are available on the MQL5 Blog:

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

Support

• Product comments section on this page
• Direct message to the author via MQL5: https://www.mql5.com/en/users/khiemni/seller
• Response time: within 24 hours