Amiya's Doji / Hammer / Spinning Top Breakout Strategy v5 by amiyashankar
By amiyashankar
Performance Metrics
- Author: amiyashankar
- Symbol: NSE:NIFTY
- Timeframe: 5 minutes
- Net P&L: −2,147.95 INR (−2.15%)
- Win Rate: 30.5%
- Profit Factor: 0.815
- Max Drawdown: 2,236.65 INR (2.24%)
- Total Trades: 514
Description
How it works 1. Pattern Detection (Previous Candle): • Checks if total shadow length ≥ 2 × body. • Checks if candle height (high − low) is between 10 and 21.5 points. • If true → marks that candle as a potential Doji, Hammer, or Spinning Top. 2. Long Setup: • LTP (close) crosses above previous candle high. • Previous candle is a valid pattern candle. • Stop Loss = 3 points below previous candle low. • Take Profit = 5 × (high − low) of previous candle added to previous high. 3. Short Setup: • LTP (close) crosses below previous candle low. • Previous candle is a valid pattern candle. • Stop Loss = 3 points above previous candle high. • Take Profit = 5 × (high − low) of previous candle subtracted from previous low. 4. Visualization: • Yellow background highlights pattern candles. • Green ▲ and Red ▼ markers show entry points.Deep yellow candles → represent Doji / Hammer / Spinning Top patterns • Green triangle → Buy signal • Red triangle → Sell signal • Dotted green line + label → Target • Dotted red line + label → Stop loss • Gray background → Outside trading hours • Auto close → All trades square off at 3:29 PM IST