The Morning Doji Star Bullish indicator identifies a three-candle bullish reversal pattern consisting of a long black candle, a gapping doji, and a long white candle closing above the midpoint of the first body.
//@version=5
indicator("Morning Doji Star - Bullish", shorttitle = "Morning Doji Star - Bull", 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_bullish = input(color.blue, "Label Color Bullish")
C_MorningDojiStarBullishNumberOfCandles = 3
C_MorningDojiStarBullish = false
if C_LongBody[2] and C_IsDojiBody[1] and C_LongBody and C_DownTrend and C_BlackBody[2] and C_BodyHi[1] < C_BodyLo[2] and C_WhiteBody and C_BodyHi >= C_BodyMiddle[2] and C_BodyHi < C_BodyHi[2] and C_BodyHi[1] < C_BodyLo
C_MorningDojiStarBullish := true
alertcondition(C_MorningDojiStarBullish, title = "New pattern detected", message = "New Morning Doji Star – Bullish pattern detected")
if C_MorningDojiStarBullish
var ttBullishMorningDojiStar = "Morning Doji Star\nThis candlestick pattern is a variation of the Morning Star pattern. A three-day bullish reversal pattern, which consists of three candlesticks will look something like this: The first being a long-bodied red candle that extends the current downtrend. Next comes a Doji that gaps down on the open. After that comes a long-bodied green candle, which gaps up on the open and closes above the midpoint of the body of the first day. It is more bullish than the regular morning star pattern because of the existence of the Doji."
label.new(bar_index, patternLabelPosLow, text="MDS", style=label.style_label_up, color = label_color_bullish, textcolor=color.white, tooltip = ttBullishMorningDojiStar)
bgcolor(ta.highest(C_MorningDojiStarBullish?1:0, C_MorningDojiStarBullishNumberOfCandles)!=0 ? color.new(color.blue, 90) : na, offset=-(C_MorningDojiStarBullishNumberOfCandles-1))
Overview
Morning Doji Star - Bull applies optional trend filtering using SMA50 or SMA50 with SMA200 before confirming the pattern. When detected, the script plots a label reading MDS on the price chart along with a tooltip description and applies a blue background highlight to the pattern area. The primary settings control trend detection method and label color. The indicator draws directly on the price chart and may repaint.
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 Bullish
color
color.blue
label_color_bullish
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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