Doji Ashi v2.0 (with SL & TP levels)

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This is a version of @SassyStonks Doji Ashi v2.0 that includes ATR based SL levels with adjustable R:R TP levels.

What is Doji Ashi v2.0?

This indicator is designed for short-term intraday momentum trading, offering Buy and Sell signals based on a refined combination of filters including:
Trend alignment with daily SMAs
Momentum confirmation using EMA 3/8 cross
Relative volume to identify activity spikes
VWAP positioning to confirm trend consistency
Time filters to avoid unreliable early market chop
It adapts dynamically depending on whether you’re trading Stocks or Crypto, with appropriate filters toggled automatically.

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How the Script Works

Core Logic:

A Buy signal appears when:
The price is in an uptrend (via SMAs)
VWAP and volume confirm momentum
EMA 3 crosses above EMA 8
Relative strength is strong (if enabled)
Market opens past first 30 mins
A Sell signal appears when:
The asset shows weakness across these same filters, in reverse
You’ll see green “BUY” or red “SELL” markers on your chart instantly when the full condition set is met. This script does not repaint.

Entry Logic Options:

Choose between:
"Cross" mode: Signals appear on 3/8 EMA crossover
"Above/Below" mode: Persistent signal while 3 EMA stays above/below 8 EMA
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Strategy for Consistent Gains

This script works best on liquid stocks such as LUNR, ASTS and PLUG. It also works with Crypto. Make sure you choose the correct indicator setup type (Stocks or Crypto) in the setting before testing.

If you don't see any signals the default settings may be too strict for your chosen stock. Have a play with the settings to find the right balance for you. The default settings follow the strategy below for what I believe are currently the best results.

Alerts for buy/sell signals can be set from the alerts menu. For best results, make sure you set the alert to action on close of bar.

This indicator is most effective when:
Used with liquid stocks or crypto
Entries are confirmed with VWAP, not counter-trend
Signals are filtered by volume spikes and trend direction
Example strategy:
Buy a Call when you see a BUY signal with high volume, in an uptrend
Exit on a cross back to VWAP (the orange line) or a quick 1% profit
Do the opposite with PUTs on a SELL signal
This is ideal for quick day trades (scalps or trend moves), and avoids the choppy, uncertain zones at market open.

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Optimizing via Settings

There are additional, stricter filters in the settings. Please adapt to your preference.

Presets:
Stocks (Default): Applies all filters but lets you disable them as needed
Crypto: Disables stock-specific filters (SPY comparison, RS, Daily trend)
Filters:
Daily Trend Filter: Helps align trades with higher timeframe direction (recommended ON for stocks)
Market Trend & RS: Filters based on SPY and relative performance (test enabling for SPY-following tickers)
VWAP Entry Filter: Keeps you from fighting the dominant intraday trend
Ignore First 30 Minutes: Avoids false signals at the open
Experiment with toggling filters ON/OFF to match your asset class and volatility conditions.

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Finally

The best way to master this indicator is to understand the trading mindset it came from.

Read The Damn Wiki — it’s free, comprehensive, and packed with wisdom that this script distills into a usable tool.

If you would like to adapt this indicator you are very welcome to do so. All I ask in return is that you share your findings with the wider community.

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Happy trading. May your entries be sharp and your exits cleaner.

~ @SassyStonks

6 saat önce

Sürüm Notları

Update to version 2.5.