OPEN-SOURCE SCRIPT
Double Doji
Strategy Kiss = 'Keep It Simple, Stupid' or 'Keep It Simple, Smart'
The script simply identifies 2 consecutive Doji candles, and calculates Target on both the sides for given Reward : Risk factor.
The High-Low to Open-Close ratio is set to default value 20. The Reward : Risk ratio is of default value 2.
Both can be set to values of your choice.
Accuracy best on Daily chart. Can be tried on any timeframe though.
Trading Rules: Buy at higher / Short at lower of the 2 candles, with other as Stop Loss.
If a Stop Loss is hit, go for reverse trade. If again a SL is hit, switch to other instrument.
Important: If trading in Futures and target is achieved, hedge the position by buying an option (subject to liquidity).
Reason is, the trend may condition to any extent and you would definitely not want to miss out the whole action.
Check the shared example. For a risk to 175 points, reward is 2200+ points (more than 12.5 times).
The script simply identifies 2 consecutive Doji candles, and calculates Target on both the sides for given Reward : Risk factor.
The High-Low to Open-Close ratio is set to default value 20. The Reward : Risk ratio is of default value 2.
Both can be set to values of your choice.
Accuracy best on Daily chart. Can be tried on any timeframe though.
Trading Rules: Buy at higher / Short at lower of the 2 candles, with other as Stop Loss.
If a Stop Loss is hit, go for reverse trade. If again a SL is hit, switch to other instrument.
Important: If trading in Futures and target is achieved, hedge the position by buying an option (subject to liquidity).
Reason is, the trend may condition to any extent and you would definitely not want to miss out the whole action.
Check the shared example. For a risk to 175 points, reward is 2200+ points (more than 12.5 times).
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Möchten Sie dieses Skript auf einem Chart verwenden?
Haftungsausschluss
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