//@version=5
indicator("Evening Doji Star - Bearish", shorttitle = "Evening Doji Star - Bear", overlay=true)
C_DownTrend = true
C_UpTrend = true
var trendRule1 = "SMA50"
var trendRule2 = "SMA50, SMA200"
var trendRule = input.string(trendRule1, "Detect Trend Based On", options=[trendRule1, trendRule2, "No detection"])
if trendRule == trendRule1
priceAvg = ta.sma(close, 50)
C_DownTrend := close < priceAvg
C_UpTrend := close > priceAvg
if trendRule == trendRule2
sma200 = ta.sma(close, 200)
sma50 = ta.sma(close, 50)
C_DownTrend := close < sma50 and sma50 < sma200
C_UpTrend := close > sma50 and sma50 > sma200
C_Len = 14 // ta.ema depth for bodyAvg
C_ShadowPercent = 5.0 // size of shadows
C_ShadowEqualsPercent = 100.0
C_DojiBodyPercent = 5.0
C_Factor = 2.0 // shows the number of times the shadow dominates the candlestick body
C_BodyHi = math.max(close, open)
C_BodyLo = math.min(close, open)
C_Body = C_BodyHi - C_BodyLo
C_BodyAvg = ta.ema(C_Body, C_Len)
C_SmallBody = C_Body < C_BodyAvg
C_LongBody = C_Body > C_BodyAvg
C_UpShadow = high - C_BodyHi
C_DnShadow = C_BodyLo - low
C_HasUpShadow = C_UpShadow > C_ShadowPercent / 100 * C_Body
C_HasDnShadow = C_DnShadow > C_ShadowPercent / 100 * C_Body
C_WhiteBody = open < close
C_BlackBody = open > close
C_Range = high-low
C_IsInsideBar = C_BodyHi[1] > C_BodyHi and C_BodyLo[1] < C_BodyLo
C_BodyMiddle = C_Body / 2 + C_BodyLo
C_ShadowEquals = C_UpShadow == C_DnShadow or (math.abs(C_UpShadow - C_DnShadow) / C_DnShadow * 100) < C_ShadowEqualsPercent and (math.abs(C_DnShadow - C_UpShadow) / C_UpShadow * 100) < C_ShadowEqualsPercent
C_IsDojiBody = C_Range > 0 and C_Body <= C_Range * C_DojiBodyPercent / 100
C_Doji = C_IsDojiBody and C_ShadowEquals
patternLabelPosLow = low - (ta.atr(30) * 0.6)
patternLabelPosHigh = high + (ta.atr(30) * 0.6)
label_color_bearish = input(color.red, "Label Color Bearish")
C_EveningDojiStarBearishNumberOfCandles = 3
C_EveningDojiStarBearish = false
if C_LongBody[2] and C_IsDojiBody[1] and C_LongBody and C_UpTrend and C_WhiteBody[2] and C_BodyLo[1] > C_BodyHi[2] and C_BlackBody and C_BodyLo <= C_BodyMiddle[2] and C_BodyLo > C_BodyLo[2] and C_BodyLo[1] > C_BodyHi
C_EveningDojiStarBearish := true
alertcondition(C_EveningDojiStarBearish, title = "New pattern detected", message = "New Evening Doji Star – Bearish pattern detected")
if C_EveningDojiStarBearish
var ttBearishEveningDojiStar = "Evening Doji Star\nThis candlestick pattern is a variation of the Evening Star pattern. It is bearish and continues an uptrend with a long-bodied, green candle day. It is then followed by a gap and a Doji candle and concludes with a downward close. The close would be below the first day’s midpoint. It is more bearish than the regular evening star pattern because of the existence of the Doji."
label.new(bar_index, patternLabelPosHigh, text="EDS", style=label.style_label_down, color = label_color_bearish, textcolor=color.white, tooltip = ttBearishEveningDojiStar)
bgcolor(ta.highest(C_EveningDojiStarBearish?1:0, C_EveningDojiStarBearishNumberOfCandles)!=0 ? color.new(color.red, 90) : na, offset=-(C_EveningDojiStarBearishNumberOfCandles-1))
Overview
Evening Doji Star - Bearish checks for a three-bar pattern comprising a long bullish candle, a gapping doji body, and a long bearish candle closing below the midpoint of the first candle body. Users can filter pattern detection based on 50-period SMA, 50/200-period SMA trends, or no trend filter. Detected patterns are highlighted with a customizable red label above the chart and background shading.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Detect Trend Based On
string
trendRule1
trendRule
Label Color Bearish
color
color.red
label_color_bearish
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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