What is A Doji?
- Doji form when the open and close of a candlestick are equal, or very close to equal.
- Considered a neutral formation suggesting indecision between buyers and sellers–bullish or bearish bias depends on previous price swing, or trend.
- Length of upper and lower shadows (wicks and tails) may vary giving the appearance of a plus sign, cross, or inverted cross.
Why are Doji important?
- Completed doji may help to either confirm, or negate, a potential significant high or low has occurred.
- May act as a leading indicator suggesting a short-term price swing/trend reversal may be in progress.
- Doji may also help confirm, or strengthen, other reversal indicators especially when found at support or resistance, after long trend or wide-ranging candlestick.
- Long-legged doji represent a more significant amount of indecision as neither buyers nor sellers take control.
- Gravestone doji indicate that buyers initially pushed prices higher, but by the end of the session sellers take control driving prices back down to the session low.
- Dragonfly doji indicate that sellers initially drove prices higher, but by the end of the session buyers take control driving prices back up to the session high.
Types of Doji deployed in this indicator:
Doji in zones
Doji reversal in zones
Double Dojis in zones
This indicator tells you when to BUY or SELL
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