Doji and Hammer Trading systems

Forums ProRealTime English forum ProRealTime platform support Doji and Hammer Trading systems

Viewing 4 posts - 1 through 4 (of 4 total)
  • #13073

    Hi,

    Does anyone uses Doji and hammer indicators in trading system ? I have figured out the basuc operational trigger but struggling to set up stop loss and profit parameters. Here is the logic for reference:

    IF close>open and high=close and (open-low)>=3*(close-open) THEN
    //Detection of Hammer / Black hanging man
    Result=1

    ELSEIF close > open and high > close and (open – low) >= 3*(high-close) THEN
    // Detection of Doji
    Result=2

    Idea is to setup stop loss 4 points below the low. I tried lot of combinations but doesn’t seem to work. I will really appreciate if someone can help me on this forum. Thanks…

    #13074

    To calculate the stoploss value, you’ll have to find the difference between the price when the trade is initiated and the level where you want it to be set:

    Then add this stop value to your order:

     

    #13081

    Thanks Nic. Do i need to define pipsize as a variable or it picks it up automatically ? Sorry If its a basic question. I am quite new to this system.

    #13094

    Nope, pipsize is a built-in instruction. PIPSIZE

Viewing 4 posts - 1 through 4 (of 4 total)

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