Trading with candlestick patterns has long been popular. Among them, the Doji line is not only easy to find, but can also provide a high win rate when included in a trading strategy. Trading using candlestick patterns is also highly recommended for beginners.
Here, we introduce an EA that is using Doji patterns for generating signals and taking trades.
What is a Doji line (pattern) in the first place?
A Doji pattern is candlestick that looks just like a straight vertical line. In other words, if the opening price and closing price are the same value, it is considered a Doji pattern. This coincidence may indicate a market that is indecisive or confused and they particularly appear often at the end of a trend. Many professional traders, therefore, pay attention to Doji patterns when they see them on the chart.
This EA determines whether to place an order according to the following conditions:
Target is set by parameter.
Stop loss is set as follows:
Note: Back test results may be optimized. Also, the back test results may differ from the trading results when using a live trading account. Please understand this point before using this EA.
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