Doji Swing Entries with Paired Stop Orders and Optional Volume Filtering

Summary

This swing strategy uses a doji candle as a setup for placing opposing stop orders near the candle’s high and low, with levels adjusted according to the prior candle’s range and body. The orders are linked so that one entry cancels the other. A doji is identified by comparing the open-close body with the full candle range, while an optional volume filter requires volume to exceed its moving average. The script includes configurable stop-loss and take-profit distances and a risk-based sizing calculation.

The accompanying description recommends larger chart intervals, suggesting they reduce noise in doji formations, and mentions use on hourly or daily charts. It provides no quantified backtest results or evidence that the pattern is profitable. The strategy’s outcomes depend on the doji threshold, order placement, and stop and target settings; a volume filter is optional. The displayed implementation also contains unconditional close calls, making its exit behavior difficult to reconcile with the intended stop and target logic. Treat the script as an illustrative rule set rather than a validated system.

Key ideas

• A doji candle triggers paired stop orders near its high and low.
• The first filled entry cancels the opposing entry order.
• The doji threshold compares candle body size with the full high-low range.
• An optional filter requires volume to exceed its moving average.
• The document provides no performance evidence, and the displayed exit logic is unclear.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.