find adoji with a small body

adarty73

New member
i am building a scanner to find certain types of bars like harami, engulfing and all that TOS doji is the same opening and close. I see other types of dojis that i consider a doji with small body but the scanner doesn't detect those.
Is there a way to make a doji with conditions with a small body range?
thanks apreciate it
 

Moops

New member
What is small? That's the hard answer. If you have an average size, I would say 1 standard deviation smaller than the average would be small. Going by that assumption, you could try this:

Code:
input scaling_factor= 0.5;
input length = 20;

def average_body_height = Average(BodyHeight(),length);
def body_height_std_dev = StDev(BodyHeight(),length);
def small_body = BodyHeight() < average_body_height - scaling_factor *  body_height_std_dev;

plot spinning_top = small_body;

assignPriceColor(if spinning_top then Color.RED else Color.WHITE);

Make the scaling factor smaller to allow larger spinning tops, and go the other way for the opposite. Adjusting the length will affect the size of the standard deviation as well, but less predictably.
 
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