The Doji Pattern indicator for Metatrader 5 scans any currency pair for Doji candlestick formations and then draws them in the price chart.
The Doji candle pattern is solely based on price action and doesn’t lag the price.
It’s recommended to combine this technical pattern with an existing trading strategy for accurate trade entry and exit.
The following indicator inputs and parameters can be modified: colors, and style.
The Doji trading pattern indicator works for any trading instrument (Forex, Stocks, Indices, etc.) that can be loaded into the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
It supports all time frames and Forex pairs.
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Doji_Arrows.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Doji Pattern indicator looks like when applied to the MT5 chart.
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Doji_Arrows.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Doji_Arrows.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration