Marking Doji Candles by Their Relationship to the Trend
Summary
The indicator identifies Doji candlesticks and marks them on a price chart. It distinguishes candles that align with the prevailing trend from those that move against it by using brighter and darker colors, respectively. This offers a visual way to locate Doji patterns while considering their trend context.
The document gives a brief description and illustration captions, but does not explain how the trend is defined, what criteria qualify a candle as a Doji, or how the markings should inform entries or exits. It provides no backtest or evidence that the color distinction predicts market direction. The indicator was originally published in 2007, and the available description is too limited to assess its methodology or trading value.
Key ideas
- The indicator finds and highlights Doji candlesticks on a chart.
- It uses brighter coloring for Doji candles aligned with the trend and darker coloring for those against it.
- The document does not specify the Doji criteria or how it defines the trend.
- No trading rules or performance evidence are provided.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.