Doji Finder Indicator MT5

The indicator analyzes the chart and identifies Doji candlesticks. Shows their appearance and signals the appearance of such a candle (if allowed in the parameters). Also, this indicator shows the strength of the reversal in the form of bars of different colors (the more green, the more likely the rise, the more red - the fall in price). The direction of the signal depends on the direction of the previous candles, as the Doji signals a reversal or correction. In the indicator settings, you can change the parameters of the Doji candlestick, the closure of which will be a signal. The frequent appearance of a signal is strongly influenced by the number of previous candles in one direction before the Doji reversal (the longer the trend was before the reversal, the more reliable the signal can be, but with a large number of candles in one direction, the signals will be very rare).

In the settings, you can also set the possibility of signaling and the colors of the arrows on the chart.

Input parameters

• History - the period of the chart history (the number of previous candles) where to search for the previous Doji signal candles;
• MinLongShadowPercent - minimum length of the candlestick shadow (the longer the candlestick shadow, the better the reversal signal, but fewer signals), 1-99%;
• MaxCandleBodyPercent - the maximum length of the candlestick body (the larger the candlestick body, the less similar it is to Doji and the weaker the reversal), 0.1% - 20%;
• CountLastCandles - the number of previous candles in one direction before the Doji reversal (1-10);
• MinCandleLenghtPercent - the minimum length of the Doji candlestick in percentage to several previous ones (0 = off, 1-200%);
• EnableAlert - enable or disable an alert when a Doji signal appears at the close of the last candle;
• ArrowBuyColor - arrow color when a buy signal appears;
• ArrowSellColor - arrow color when a sell signal appears.
• IndicatorBarsThickness - change the thickness of the indicator lines (0 - bars of the same size are drawn, depending on the timeframe).