Gravestone Doji Trading System
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Ich Khiem Nguyen
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Gravestone Doji Trading System for MetaTrader 5
Gravestone Doji Trading System is a price action indicator for MT5 designed to detect bearish reversal candles with long upper rejection and near-equal open and close near the low.
A detailed user guide is available on the author’s MQL5 Blog.
Additional updates are available through the author’s MQL5 Channel.
Depending on the current support policy, buyers may receive additional access to selected companion tools developed by the author.
Overview
Gravestone Doji Trading System detects doji-style bearish reversal structures on completed bars and displays structured trading levels on the chart.
This pattern can be used to identify possible buying exhaustion when price rallies during the bar and then returns to close near the opening level.
All calculations are based on completed bars only.
Detection is non-repainting. Signal values do not change after the bar is closed.
The indicator can draw Entry, Stop Loss, and Take Profit levels directly on the chart and track signal progress after detection.
Detection Logic
The detection model evaluates each completed candle through several structural conditions.
These conditions can include:
Very small body size relative to total range
Long upper shadow relative to the candle range
Minimal lower shadow
Minimum range relative to ATR
Close positioned near the open and low
The indicator is designed to distinguish Gravestone Doji structures from other doji variants and from standard rejection candles.
Patterns that do not meet the selected structural requirements are ignored.
Quality Evaluation
Each valid pattern can be evaluated through a multi-factor quality model.
The scoring process can include measurements such as:
Doji quality
Upper shadow ratio
Lower shadow restriction
Directional change relative to the previous bar
Range relative to ATR
Relative range behavior
Signals below the selected minimum threshold can be filtered out automatically.
Multiple detection modes are available, including Standard Mode and Strict Mode.
Entry and trade planning
For confirmed setups, the indicator can project bearish breakout levels using pending-style entry logic below the pattern low.
For each valid setup, the indicator can display:
Entry level
Stop Loss level
Up to four Take Profit levels
Risk and reward zones on the chart
Stop Loss can be calculated using a pattern-based method, ATR-based logic, or Donchian Channel reference.
An optional trailing stop based on Donchian logic is also available for users who want dynamic trade management after entry.
Filters and tools
Optional filters are available to reduce unnecessary signals:
Trend Filter
Volume Filter
Session Filter
Volatility Filter
Market Structure Filter
The built-in scanner can monitor multiple symbols and timeframes from a single chart.
The indicator also includes BOS and CHOCH labels, a signal dashboard, alert options, chart themes, statistics tracking, and output buffers for Expert Advisor integration through iCustom().
Recommended use
Recommended timeframes are M15, M30, H1, and H4 for a balance between signal frequency and structural clarity.
The indicator can be applied to Forex pairs, XAUUSD, indices, crypto symbols, and other instruments, depending on broker data quality and symbol characteristics.
Loading sufficient chart history is recommended for more stable structure analysis.
MetaTrader 5 only.
No DLL calls.
No external WebRequest connections.
Important notes
This indicator is a technical analysis tool.
It does not guarantee trading results.
Users should test settings in their own environment and apply appropriate risk management.
Support is available through the product comments section or via MQL5 direct message.
