Doji Arrows – EA MetaTrader 5

Idea by: Scriptor.

MQL5 code by: Vladimir Karputov.

The EA trades by the Doji pattern:

At the same time, you can set the candlestick body size in the “Size of a body of a candle (Open Close)” parameter.

Operation algorithm

The EA analyzes bar #2 and bar #1 when a new bar appears. If bar #2 is Doji, then the following signals are checked:

• close#1 > high#2 → signal for opening a BUY;
• close#1 < low#2 → signal for opening a SELL.

Inputs

• Lots (if “0” → the parameter “Risk” will be used) – a lot value that is set manually. If you set to “0”, then the parameter of “Risk” will work, i.e., risk in percents of free margin per a trade;
• Stop Loss (in pips) – Stop Loss; if you set it to “0”, the parameter will be disabled;
• Take Profit (in pips) – Take Profit; if you set it to “0”, the parameter will be disabled;
• Trailing Stop (in pips) – trailing, if you set it to “0”, the parameter will be disabled;
• Trailing Step (in pips) – trailing step;
• Risk (if “0” → the parameter “Lots” will be used) – risk in percents of free margin per trade;
• Size of a candle (Open Close) – candlestick body size;
• magic number – unique identifier for the EA.

If “Size of a candle” = 0, then there will be just a few trades (about 15-30) on H1 over the year, and profitability as follows:

If you set this parameter to 1, then the number of trades will increase tenfold, and the profit will be distributed as follows: