A Doji is a pattern found in a candlestick chart and is typically used by traders to do technical analysis. It is characterized by a small body which means the opening and closing price are virtually equal. The lack of a real body conveys a sense of indecision between buyers and sellers and the balance of power may be shifting. A Doji is not as significant if the market is not clearly trending, as non-trending markets are inherently indicative of indecision. However, Doji are trend reversal indicators if they appear after an upward or downward trend. There are 4 common types of Doji.
This indicates extreme indecision in the market and a lack of commitment from traders. If other indicators suggest that prices are overbought or oversold, it can mean a price reversal is imminent.
Long legged Doji
This indicates indecision between bulls and bears but suggests that traders are becoming more active and that a volatile price move may soon occur.
This indicates that a current uptrend may be coming to an end with the price about to reverse downward.
This indicates that a current downtrend may be coming to an end with the price about to reverse upwards.
Easy Doji provides a comprehensive dashboard that allows you to view the presence of Doji formed over 37 currency pairs across 5 timeframes (M15, M30, H1, H4, D1) at one glance.
Below are some of the key features of the app.
- Timely display of the 4 types of Doji whenever they appear over 37 currency pairs across 5 timeframes,
- Display headline news of your favourite currency pair(s)
- Quick access to the Economic Calendar from Forex Factory which covers all important events and releases that affect the forex market.
Easy Indicators relies on your support to fund its development and server costs. If you like our apps and wish to support us, kindly consider subscribing to Easy Doji Premium. This subscription removes all advertisements within the app and supports our development of future enhancements.
To learn more about us and our products, please visit www.easyindicators.com .
For technical support / enquiries, email our technical support team at firstname.lastname@example.org
Join our facebook fan page.
Follow us on Twitter (@EasyIndicators)
*** IMPORTANT NOTE ***
Please note that updates are not available during weekend.
EasyIndicators has taken great measures to ensure the accuracy and timeliness of the information in the application, however, does not guarantee its accuracy and timeliness, and will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information, inability to access the information, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this application.
The Application Provider (EasyIndicators) reserves the rights to stop the service without any advance notification.