Doji Ashi v2.0

kelmarin

Doji Ashi v2.0

A versatile intraday trading indicator designed for both stocks and crypto, based on real trader feedback and tested principles.

...

Introduction & Acknowledgements

This script was made possible thanks to the ongoing feedback and live testing by the TradingView and Reddit communities. Special thanks to:

Nathan_Drake_000
Disastrous-Stand4613
Lalelulilo_ph
Jtri25

Each provided insights that directly shaped the filters, presets, and signal logic found in this release.

Much of the philosophy behind this indicator is inspired by the free Reddit PDF:
The Damn Wiki
I highly recommend reading it to better understand the edge this indicator is trying to provide.

...

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.

...

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
  

...

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.

...

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.

...

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.

...

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

~ @SassyStonks

kelmarin

Nota Keluaran

Tooltips added to the settings by request

kelmarin

Nota Keluaran

Answers to repeat questions:

• Script works best on 5min + charts, but can be used on any.
  
• Script doesn't repaint signals.
  

10 jam lalu

Nota Keluaran

General Improvements

• Introduced ZLEMA and HULL moving average options for entry triggers to reduce lag and improve trade responsiveness.
  
• Market open timeframe can now be changed in settings
  
• Unified the 3/8 MA Entry Mode setting so it works across all MA types (EMA, ZLEMA, HULL).
  
• Enhanced tooltips on all settings for better usability and onboarding.
  
• Fully structured default behaviours per market type (Stocks vs. Crypto).
  
• Resolved multiple issues around default value types, trend confirmation logic, and time filters.
  

Behind-the-Scenes Adjustments

• BTC filter implemented using BTCUSD 20-SMA to assess Crypto market trend.
  
• Filters dynamically toggle based on selected Market Type Preset (Stocks vs Crypto).
  
• Simplified structure to ensure flexibility for future strategy adaptations.
  

⸻


...

Stocks Preset (Default when ‘Stocks’ is selected):
All filters enabled by default:

• Market Trend Filter (SPY)
  
• Relative Strength Filter
  
• Daily Trend Filter (enabled)
  
• Relative Volume Filter
  
• VWAP Intraday Filter
  
• 3/8 MA Entry Trigger
  
• Ignore First 30 Minutes of Market Open
  

Default configuration:

• Trend Mode: Strict (requires all 3 daily SMAs aligned)
  
• MA Entry Mode: Cross
  
• Trigger MA Type: ZLEMA for faster, smoother entries
  

Crypto Preset (Default when ‘Crypto’ is selected):
All filters enabled by default:

• Market Trend Filter (BTC) ← New addition!
  
• Daily Trend Filter (enabled by default in Crypto now)
  
• Relative Volume Filter
  
• VWAP Intraday Filter
  
• 3/8 MA Entry Trigger
  
• Ignore First 30 Minutes of Market Open
  

Default configuration:

• Trend Mode: Strict
  
• MA Entry Mode: Cross
  
• Trigger MA Type: HULL for sharper trend sensitivity
  

Special thanks to: Tough-Promotion-8805, Kwhit3354 and Samadhi2015 on Reddit for their helpful suggestions and support.