Candlestick chart patterns

Bearish Counter-Attack Lines
Bearish Engulfing Pattern
Bearish Harami
Bearish Hikkake Pattern
Bearish Multi-Harami Pattern
Bearish Separating Lines
Bearish Star
Belt hold line (Marubozu)
Belt-Hold line-Yorikiri-Bearish Pattern
Belt-Hold line-Yorikiri-Bullish Pattern
Bullish Counter-Attack Lines
Bullish Engulfing Pattern
Bullish Harami
Bullish Hikkake Pattern
Bullish Kicker Candlestick Pattern
Bullish Multi-Harami Pattern
Bullish Separating Lines
Bullish Star Pattern
Butterfly Doji
Channels
Coiling Inside Bar
Cup and Handle
Dark Cloud Cover Pattern
Doji Pattern
Doji Star Candlestick Pattern
Double Inside Bar
Downward Gap Tasuki
Flags and Pennants
Gravestone Doji
Hammer & Hanging man Pattern
Head and Shoulders and Inverted Head and Shoulders
Inverted Hammer & Shooting Star Pattern
Ladder Bottom
Ladder Top
Long-legged Doji
Mat-Hold Pattern
Mega Bearish Engulfing
Mega Bullish Engulfing
Multi Inside Bar
Negative Bias Candle
Piercing Pattern
Positive Bias Candle
Raindrop
Rickshaw-man Doji
Rounding Bottom
Side-by-side Green lines - Bearish
Side-by-side Green lines - Bullish
The Evening Star
The Falling Three Pattern
The Morning Star
The Rising Three
Three Advancing Soldiers
Three Black Crows Pattern
Three Inside Out Pattern - Bearish
Three Inside Out Pattern - Bullish
Three Line Strike Pattern - Bearish
Three Line Strike Pattern - Bullish
Three Outside Up Pattern - Bearish
Three Outside Up Pattern - Bullish
Three River Bottom Pattern
Trend Angles: 45 Degree Trendline
Trendlines
Triangles
Upside Gap Two Crows
Upward Gap Tasuki
Wedges: Rising and Falling Wedges
Windows

Doji Pattern

Doji is a single candlestick pattern which has ‘No body’, only shadows. Having no body in the candle would mean that there is no difference between the Open and the Close price. Hence, only a line is plotted in the candle instead of the body.

The line appears at the Open and Close price level.

Since the Open and Close are at the same level, there is no color defined for the Doji candle.

Practically, there is a very rare possibility that price opened exactly where it closed. There can be a slight difference between both. So, stick to the essence of the pattern and treat the negligible difference between Open and Close price as a Doji candle.

Let’s apply some flexibility to the requirement of same opening and closing prices. If they are within a few ticks of each other, it can still be viewed as a Doji candle.

In that case, even if close is few ticks above the opening price, the color of the candle becomes green. Same way, even if close is few ticks below the opening price, the color of the candle becomes red. But color of the Doji candle us unimportant, it should be ignored.

Doji pattern indicates indecision among market participants.

Click here to learn more about the Doji pattern.

This pattern can be plotted on the chart by adding it from the study menu in TradePoint & RZone. The pattern is also available in the system builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.

Open Demat Account