| PART | Part | Description | ||
|---|---|---|---|---|
| 1 | INTRODUCTION | Product introduction, what the product helps you with | ||
| 2 | INSTALLATION & SETUP | System necessities, step-by-step set up information | ||
| Information to Putting in Free Indicators and EAs Included with the Mirage Buying and selling System Buy | ||||
| 3 | INTERFACE DISPLAY | Clarification of the parts displayed on the chart | ||
| Consumer Information: Buying and selling Strains & Sign Monitoring System | The system mechanically attracts Entry, Cease Loss, and Take Revenue strains (TP 1–4) on the chart, tracks worth motion for hits, information Win/Loss outcomes, and shows real-time efficiency statistics. | |||
| Consumer Information : Visualization, Zone Fill, Sign Dashboard & Cancelled Alerts | If you connect an indicator to a chart, the system renders the next visible parts for every detected sign | |||
| Consumer Information: MTF SCAN & Dashboard Consumer Information | MTF SCAN mechanically scans all Market Watch symbols throughout 8 timeframes (M1 to W1) and shows outcomes on a Dashboard grid immediately in your chart. | |||
| Consumer Information : Chart Theme Consumer Information | Chart Theme is a characteristic that adjustments the whole chart coloration scheme in MetaTrader 5 — together with the background, candles, grid, textual content, and Bid/Ask strains — with a single click on. | |||
| 4 | CORE CONCEPTS | Elementary ideas that the system is constructed upon | ||
| Consumer Information: Market Construction Performance within the Buying and selling System | Identifies pattern route (Uptrend, Downtrend, Ranging) by analyzing swing highs/lows, and detects key occasions: BOS (pattern continuation) and CHoCH (potential pattern reversal). | |||
| Consumer Information : Sign Varieties, States, and Lifecycle | A sign is the system’s notification when it detects a qualifying candlestick sample on the chart. Every sign tells you the anticipated worth route and supplies instructed entry, cease loss, and take revenue ranges. | |||
| 5 | SIGNAL FILTERS | Filters that refine and validate buying and selling indicators | ||
| Consumer Information: Commerce Path (Path Filter) within the Buying and selling System | Defines the allowed buying and selling route (Purchase solely, Promote solely, each, or neither) as the primary filter earlier than trying to find entry indicators, primarily based on present market pattern. | |||
| Consumer Information: Sign Zone Filter within the Buying and selling System | Eliminates indicators not close to necessary worth zones, retaining solely these related to market constructions (swing excessive/low, BOS, CHoCH) to cut back noise. | |||
| Consumer Information: StoplossHunt Filter Consumer Information — Filtering “SL Sweep” Alerts | Identifies higher-probability indicators by checking whether or not worth “swept stoploss” earlier than forming a sample. | |||
| Consumer Information : Excessive Zone Filter |
Excessive Zone Filter is a sign filtering characteristic that helps keep away from getting into trades when worth is on the high or backside of a Donchian worth channel. | |||
| Consumer Information: Reverse Sign Filter | The Reverse Sign Filter is an computerized characteristic that stops new indicators from showing when you have already got an lively commerce operating in the other way.The precept could be very easy: Do not buy once you’re promoting. Do not promote once you’re shopping for. | |||
| Consumer Information : High quality Filter Consumer Information | High quality Filter is a characteristic that helps you obtain solely the very best indicators — worth patterns fashioned clearly, with balanced proportions and excessive reliability — and reject weak indicators, uninteresting patterns, and people under normal. | |||
| 6 | TRADE MANAGEMENT | |||
| Consumer Information : Threat/Reward & SL Methodology Consumer Information | Threat/Reward (R:R) is the ratio between the amount of cash you settle for shedding (Threat) and the amount of cash you anticipate to achieve (Reward) in a single commerce. | |||
| Consumer Information: Trailing Cease Loss (TSL) Consumer Information | Common Cease Loss (SL) stays fastened in a single place. You set SL at 1990.00, and it stays there endlessly — even when worth has risen to 2030.00.Trailing Cease Loss (TSL) is completely different. It mechanically strikes in your favor when worth advances. As worth strikes up, TSL strikes up with it. When worth stalls or reverses, TSL holds the very best place it reached. | |||
| 7 | CONFIGURATION PARAMETERS GUIDE | Detailed information to every configuration parameter | ||
| SIGNAL SCANNING CONFIGURATION GUIDE – MIRAGE TRADING SYSTEM EA | Information to mastering sign scanning settings throughout the Inputs tab, optimizing commerce discovery on a single chart or throughout the whole market. | |||
| 8 | ALERTS & NOTIFICATIONS | |||
| Consumer Information: Alerts & Notifications Consumer Information | Configure push notifications, and on-screen popups when new indicators are detected. | |||
| 9 | SYSTEM RISKS & LIMITATIONS | Notes on system dangers and limitations |
1. INTRODUCTION
DragonflyDojiTradingSystem 1.00
Bullish Reversal at Market Bottoms
Creator: Ich Khiem Nguyen | MQL5: https://www.mql5.com/en/customers/khiemni/vendor
What’s DragonflyDojiTradingSystem?
DragonflyDojiTradingSystem helps you notice Dragonfly Doji patterns in your MetaTrader 5 charts — mechanically. The indicator scans each candle, filters out weak setups, and exhibits you solely the very best bullish reversal alternatives with clear entry factors, cease losses, and revenue targets already calculated. It really works on any market and any timeframe, providing you with extra time to focus in your buying and selling selections as an alternative of trying to find patterns.
What Are Dragonfly Doji Patterns?
The Dragonfly Doji is a single-candle reversal sample that seems at market bottoms after downtrends. Its distinctive T-shape tells a narrative of rejected weak point: sellers drive worth sharply decrease in the course of the candle (creating an extended decrease shadow), however consumers step in and reclaim worth by the shut. The result’s a candle with open, excessive, and shut clustered close to the highest, with an extended decrease shadow indicating sturdy rejection of decrease costs. This represents a shift from promoting strain to purchasing curiosity, signaling a possible bullish reversal.
Bullish Dragonfly Doji (Reversal)
Seems after a downtrend as a reversal sign. The prior candle have to be bearish (shut under open), confirming downward momentum. Then the Dragonfly Doji kinds: open close to the excessive, shut close to the open (tight physique), and an extended decrease shadow extending considerably under each. This T-shape exhibits sellers initially received (lengthy decrease shadow), however consumers rejected these low costs and pulled the shut again to the highest. When this sample seems at key assist ranges or after important promoting strain, it turns into a strong sign for potential bullish reversal and pattern change.
The longer the decrease shadow relative to the physique, the stronger the client rejection of decrease costs. High quality Dragonfly Doji patterns usually precede important uptrends, making them precious entry factors for merchants looking for early reversal indicators.
How the Indicator Finds Patterns
The indicator scans your charts in real-time and checks every potential sample in opposition to a number of high quality necessities:
- Scans every accomplished bar and checks if the present candle kinds a Dragonfly Doji form — open and shut have to be clustered close to the excessive (tiny physique), with an extended decrease shadow extending far under the physique
- Verifies the prior bar is bearish (shut under open) to substantiate downtrend context and set up that sellers managed the market earlier than the doji fashioned, making certain you are catching a real reversal moderately than noise in a consolidation
- Confirms the decrease shadow is considerably longer than each the physique and higher shadow — the ratio of decrease shadow to candle vary should exceed the minimal threshold, proving sturdy purchaser rejection of decrease costs
- Applies high quality scoring primarily based on physique tightness (how doji-like), decrease shadow energy, higher shadow cleanliness, prior bearish affirmation, vary significance relative to volatility, and prior candle engagement — solely patterns assembly the minimal high quality threshold seem in your chart
Solely patterns that move all these checks seem in your chart, so you do not waste time on weak or invalid setups.
High quality Rating — How Good Is the Sample?
Each sample will get a top quality rating from 0.00 to 1.00. This helps you give attention to the very best buying and selling alternatives.
What the Rating Means
The indicator evaluates six features of every Dragonfly Doji sample. It checks how tight the physique is (true doji high quality), how lengthy the decrease shadow is in comparison with the physique (purchaser rejection energy), whether or not the higher shadow is minimal (clear T-shape), if the prior bar was strongly bearish (downtrend affirmation), whether or not the candle vary is critical relative to current volatility, and the way a lot of the prior 10-bar transfer the doji vary represents (prior candle engagement). Every issue is weighted by significance, and the mixed rating tells you at a look how textbook-perfect the sample is.
- Grade A (0.80 – 1.00) — Wonderful: Finest indicators, highest likelihood reversals
- Grade B (0.60 – 0.79) — Good: Dependable reversal setups value buying and selling
- Grade C (0.40 – 0.59) — Common: Wants extra affirmation from worth motion
- Grade D (0.20 – 0.39) — Under Common: Dangerous, use with warning
- Grade F (0.00 – 0.19) — Poor: Keep away from buying and selling these indicators
High quality Threshold Setting
By default, the indicator solely exhibits patterns scoring 0.30 or increased. You may regulate this within the settings:
- Elevate to 0.50-0.60: See solely the very best indicators (fewer however increased high quality reversals)
- Decrease to 0.15-0.25: See extra indicators (extra frequent however blended high quality)
- Tip: Begin with the default 0.30 and regulate primarily based in your backtest outcomes
What You See on the Chart
When the indicator detects a Dragonfly Doji sample, it attracts all the things that you must know immediately on the chart:
Sign Markers
- Arrow icons: Inexperienced upward arrows mark the Dragonfly Doji sample location — positioned above the doji candle to point a bullish reversal sign. Grey arrows point out indicators blocked by an lively filter.
- High quality labels: A numeric rating (e.g., “0.74”) seems close to every sign, displaying how strongly the sample scored throughout all six high quality elements
Buying and selling Strains
- Entry line: An orange horizontal line positioned simply above the sample excessive (entry buffer = 0.05 × ATR), displaying the precise Purchase Cease set off degree
- Cease Loss line: A crimson horizontal line under the sample low (SL buffer = 0.10 × ATR), clearly labeled “SL” — that is the place your protecting cease goes
- Take Revenue strains: As much as 4 inexperienced horizontal strains above the entry degree, labeled TP1 by means of TP4, calculated at 0.5R, 1.0R, 1.5R, and a couple of.0R reward multiples respectively
Visible Zones
- Sample spotlight: A shaded rectangle spans the doji candle space, serving to you immediately see which candle kinds the Dragonfly Doji sign. Threat zone between entry and SL is shaded in crimson; reward zones between entry and every TP degree are shaded in progressively lighter inexperienced.
- Monitoring dots: Small coloured dots path above the sign candle and alter coloration because the sign evolves — white for pending, yellow for triggered/lively, inexperienced for goal hit, crimson for cease hit
Sign Lifecycle
Alerts progress by means of completely different states, proven by altering colours and monitoring dots:
- Pending: Sample simply detected, ready for entry affirmation
- Triggered: Entry worth reached, commerce is lively
- Goal Hit: Worth reached take revenue degree (sign turns inexperienced)
- Cease Hit: Worth hit cease loss (sign turns crimson)
- Cancelled: Sign invalidated earlier than entry (sign disappears or grays out)
You may watch your indicators evolve in real-time with out opening any menus or panels.
Settings You Can Modify
Listed below are the principle settings that management how the indicator finds and shows Dragonfly Doji patterns:
| Setting | What It Does | Default | When to Change It |
|---|---|---|---|
| ATR Interval for volatility | Variety of bars used to calculate ATR (Common True Vary), which normalizes all thresholds to present market volatility | 14 | Enhance to twenty+ for smoother volatility measurement on noisy markets; lower for quicker response |
| Max Bars to Scan (historical past depth) | What number of historic bars the indicator scans on first load to search out and show previous patterns | 3000 | Enhance for extra historical past on increased timeframes; lower to hurry up loading |
| Min Bars Between Patterns | Minimal hole between two consecutive detected indicators, stopping overlapping indicators on the identical transfer | 3 | Enhance to 5-7 if indicators cluster too carefully; lower to 1-2 to permit extra indicators |
| Detection Preset | Switches between Customary (relaxed, ~36% move charge), Strict (tight standards, ~10% move charge), and Customized (user-defined) threshold units | PRESET_STANDARD | Change to Strict for increased conviction reversals; use Customized to fine-tune particular person parameters |
| High quality Rating Filter (sample energy) | Allows the standard filter — solely patterns scoring at or above InpMinQuality will seem on the chart | true | Disable just for research/analysis functions; preserve enabled for stay buying and selling |
| Min High quality (0.0-1.0, 0.30=relaxed) | Minimal high quality rating a sample should obtain to be displayed | 0.30 | Elevate to 0.50+ to see fewer however stronger indicators; decrease to 0.20 for extra frequent indicators on liquid markets |
| (Customized) Max Physique Ratio (Std=0.15, Strict=0.10) | Most allowed physique dimension as a ratio of whole candle vary — decrease means tighter, extra doji-like our bodies | 0.15 | Lower to 0.10 for stricter doji definition; improve to 0.20 on uneven markets the place excellent dojis are uncommon |
| (Customized) Min Decrease Shadow Ratio (Std=0.50, Strict=0.65) | Minimal decrease shadow dimension as a ratio of whole candle vary — controls how pronounced the T-shape have to be | 0.50 | Enhance to 0.65-0.70 for stronger rejection indicators; preserve decrease (0.40-0.50) on intraday for extra indicators |
| (Customized) Max Higher Shadow Ratio (Std=0.25, Strict=0.15) | Most allowed higher shadow as a ratio of whole candle vary — controls T-shape cleanliness | 0.25 | Lower to 0.15 for cleaner T-shapes; improve to 0.35 if indicators are too uncommon on unstable markets |
| (Customized) Min Vary/ATR (Std=0.30, Strict=0.50) | Minimal candle vary as a a number of of ATR — ensures the doji represents significant worth motion | 0.30 | Enhance to 0.50+ for bigger, extra important rejections; preserve decrease (0.20-0.30) on tight-range days |
| (Customized) Shut Match ATR (Std=0.30, Strict=0.20) | Most distance from near excessive, expressed as ATR multiples — measures how near-top the shut is | 0.30 | Lower to 0.20 for tighter close-to-high matching (stricter doji); improve to 0.40 if indicators are uncommon |
| SL Buffer (xATR under sample low) | Additional buffer added under the sample low when inserting the cease loss, in ATR multiples | 0.10 | Enhance to 0.15-0.20 on unstable markets to keep away from untimely stop-outs; lower on calmer markets for tighter threat |
Settings Ideas
- Begin with all default settings and let the indicator run for a couple of days to see the way it performs in your most well-liked market and timeframe
- When you get too many indicators, change the Detection Preset to Strict or increase the Min High quality threshold to 0.50
- If indicators are too uncommon, preserve the Detection Preset at Customary and contemplate elevating the Max Physique Ratio to 0.20 or decreasing the Min Decrease Shadow Ratio to 0.45
- On very uneven markets, improve the Min Vary/ATR threshold to 0.50 so solely important rejections are detected
- All the time backtest any setting adjustments earlier than utilizing them on a stay account
Finest Timeframes and Markets
Really helpful Timeframes
- M15 — High quality: Medium | Frequency: Excessive | Finest for: Scalpers who need frequent intraday Dragonfly Doji reversals on lively classes
- H1 — High quality: Excessive | Frequency: Medium | Finest for: Day merchants who need clear intraday reversal setups, particularly on XAUUSD at every day pivots
- H4 — High quality: Excessive | Frequency: Decrease | Finest for: Swing merchants who need well-formed doji reversals with sturdy follow-through potential
- D1 — High quality: Highest | Frequency: Low | Finest for: Place merchants looking for textbook-quality reversal indicators at main every day assist ranges
Finest Markets
- XAUUSD (Gold): Robust reversal habits at assist ranges on H1 and H4 — Dragonfly Doji patterns at key resistance-turned-support usually precede important rallies
- Main foreign exchange pairs (EURUSD, GBPUSD, USDJPY): Good sign high quality on H1 and above, particularly at spherical numbers and every day pivots the place purchaser assist clusters
- Indices (US30, NAS100): Reversal patterns are widespread at assist zones; greatest on H1 and H4 the place every day construction is preserved
- Oil (USOIL): Dragonfly Doji patterns type continuously at assist ranges after sharp selloffs — greatest on H1 and H4
The indicator works on any image and timeframe, however these combos have a tendency to provide probably the most dependable reversal indicators.
Getting Began — Fast Setup
Observe these steps to start out utilizing DragonflyDojiTradingSystem:
- Open MetaTrader 5 and cargo your chart (really helpful: XAUUSD on H1 or H4 for the clearest preliminary indicators)
- Within the Navigator panel (Ctrl+N), broaden ‘Indicators’ → ‘Customized’ and discover DragonflyDojiTradingSystem
- Drag the indicator onto your chart
- Within the settings dialog, choose your most well-liked Detection Preset (Customary really helpful for novices) and click on OK to use — the indicator will scan historical past and show detected patterns instantly
- Watch for brand spanking new indicators forming in real-time — green-colored doji candles with upward arrows point out Dragonfly Doji patterns; verify the standard rating label to gauge sign energy
- After observing a number of indicators, regulate the Min High quality threshold if wanted: increase it in case you’re seeing too many marginal setups, decrease it if indicators are too rare
- Non-compulsory: Allow alerts within the ALERTS part to get popup or push notifications for brand spanking new indicators so that you by no means miss a reversal setup
That is it! The indicator is now scanning your charts mechanically and can provide you with a warning when high-quality Dragonfly Doji patterns seem.
All Options at a Look
- Automated Dragonfly Doji bullish reversal sample detection on any image and timeframe
- 6-factor weighted high quality scoring (doji high quality 1.00, decrease shadow 0.85, higher shadow 0.70, route change 0.90, vary/ATR 0.60, vary engulfing 0.50)
- 3 detection presets: Customary (~36% move charge), Strict (~10% move charge), Customized (user-defined thresholds)
- Configurable prior bar bearish requirement to substantiate downtrend context earlier than accepting a sign
- Tight physique detection with configurable physique ratio thresholds
- Sign states and lifecycle monitoring (Pending → Energetic → Completed)
- High quality filter to reject weak patterns under threshold
- Excessive zone filter (overbought/oversold rejection)
- Stoploss hunt filter (liquidity sweep validation)
- Reverse sign filter (stop conflicting indicators)
- Threat/Reward with 3 cease loss strategies (Donchian, ATR, Sample)
- As much as 4 take revenue ranges (TP1-TP4)
- Donchian Channel trailing cease loss
- MTF Scanner (as much as 150 symbols × 8 timeframes)
- Market construction evaluation (BOS / CHOCH)
- 4-channel alert system (popup, sound, push, e mail)
- Sign statistics dashboard
- Skilled chart themes (Darkish, Gentle, Customized)
- EA sign buffers for automated buying and selling
For detailed guides on every characteristic, see the MANUAL included with the indicator.
Frequent Questions
Q: Why is that this sample bullish solely?
The Dragonfly Doji is inherently a bullish reversal sample — the lengthy decrease shadow plus tight physique on the high present purchaser rejection of decrease costs and a shift in momentum towards the upside. The bearish equal can be an Inverted Hammer or completely different sample fully. This indicator focuses on Dragonfly Doji as a bullish entry sign.
Q: What is the distinction between Customary and Strict presets?
Customary permits extra indicators (~36% of candidates move) with relaxed thresholds — ideally suited once you need extra buying and selling alternatives or are buying and selling on intraday timeframes the place excellent dojis are much less widespread. Strict makes use of tighter specs (~10% move charge) for increased conviction reversals. Begin with Customary and change to Strict in case you’re getting too many indicators or want fewer, higher-quality setups.
Q: How do I scale back the variety of false indicators?
Allow the High quality Filter (default 0.30) and lift it to 0.50+ for fewer however stronger indicators. You can even change to the Strict Detection Preset, lower the Max Physique Ratio to 0.10 for stricter doji definition, improve the Min Decrease Shadow Ratio for stronger rejections, or allow the Path Filter to solely settle for indicators that align with the general pattern.
Q: Why does the cease loss generally appear large?
The SL is positioned under the sample low plus an ATR buffer (default 0.10 × ATR) to account for regular intrabar retracements and market noise. You may change to the ATR-based SL technique in settings for tighter stops, however bear in mind this will improve false stop-outs on unstable devices like XAUUSD. The Donchian Channel technique adapts SL to current worth construction and is an efficient center floor.
Q: What if I do not see many Dragonfly Doji patterns?
Dragonfly Doji patterns are much less frequent than different candlestick patterns as a result of the necessities are strict (tight physique + lengthy decrease shadow + prior bearish bar). That is truly a very good signal — it means you are seeing high quality reversals moderately than noise. When you want extra indicators, decrease the Min High quality threshold to 0.20 or change to intraday timeframes (M15, H1) the place extra reversals happen. You can even regulate the Max Physique Ratio to 0.20 on uneven days.
Q: How does the prior bar bearish requirement work?
The indicator checks that the bar instantly earlier than the Dragonfly Doji is bearish (shut under open) to substantiate downtrend context. This ensures you are catching a real reversal after established promoting, not a random doji in sideways consolidation. You may disable this requirement in settings if you wish to catch reversals throughout range-bound buying and selling as properly.
What’s New — Model 1.00
That is the 1.00 launch of DragonflyDojiTradingSystem. Key options embody:
- Dragonfly Doji bullish reversal sample detection throughout all timeframes and symbols
- 6-factor high quality scoring system evaluating physique tightness, decrease shadow energy, higher shadow cleanliness, prior downtrend affirmation, vary significance, and prior candle engagement
- Customary and Strict detection presets, plus absolutely customizable threshold mode
- Prior bar bearish affirmation to make sure reversal context
- 7-layer filter system (High quality, Excessive Zone, Path, Stoploss Hunt, Sign Zone, Market Construction, Reverse Sign)
- Multi-timeframe scanner masking as much as 150 symbols and eight timeframes concurrently
- Automated Entry/SL/TP buying and selling ranges with Donchian Channel trailing cease
- 4-channel alert system (popup, sound, push notification, e mail)
- EA sign buffers enabling automated buying and selling methods to eat Dragonfly Doji indicators immediately
- Skilled chart themes (Darkish, Gentle, Customized) for snug long-session use
Getting Assist
In case you have questions or want assist:
I am dedicated to serving to you get probably the most out of this indicator.
Able to Begin?
DragonflyDojiTradingSystem is designed to avoid wasting you time and make it easier to discover high-probability Dragonfly Doji reversal patterns mechanically. Connect the indicator to your chart and begin with the default settings — you’ll be able to fine-tune all the things later as you get snug with the way it works.
Blissful buying and selling!
Ich Khiem Nguyen
DragonflyDojiTradingSystem 1.00 — Created 2026-02-23