Southern Doji

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Figure 1. Southern Doji pattern.

Figure 1. Southern Doji pattern.

Forecast: bullish reversal
Trend prior to the pattern: downtrend
Opposite pattern: Northern Doji

Construction:

  • a doji candle with at least one shadow
  • if the candle prior this pattern is of doji type, pattern's body has to be below it
  • if the candle prior this pattern is not a doji candle then
    • in the case of a black candle, opening on the next candle cannot be higher than the closing on the previous candle
    • in the case of a white candle, opening on the next candle cannot be higher than the opening on the previous candle
  • the high price above the low price of the previous candle
  • the high price at the level or below of the trendline
  • length of the shadows is not important

 


This article is devoted to the Southern Doji one-line pattern.

The Southern Doji is a pattern belonging to the group of one-line patterns. Its basic candle is any doji candle type, except the Four-Price Doji because at least one shadow is required. A downtrend is required prior the occurrence of this pattern. Southern Doji may reverse a downtrend or slow it down. After pattern occurrence, it is recommended to wait for its confirmation.

The Southern Doji pattern may occur on the same candle line in combination with another pattern, for example, Bullish Doji Star, or on the second candle with the Morning Doji Star pattern. Such situation reinforces the strength of the signal. The pattern composed of multiple lines is considered as a stronger one.

 

Figure 2.

Figure 2. Chart presents how the Long Black Candle canceles the occurrence of Southern Doji pattern.

 

Figure 3.

Figure 3. Chart presents the occurrence of Southern Doji pattern formed within the second line of Bullish Doji Star pattern. Long White Candle confirmed both patterns (high trading volume) and created a support zone.

 

Southern Doji statistics

Below you can find some Southern Doji pattern statistics calculated by CandleScanner software. To see more detailed statistics, for other markets and periodicity try our CandleScanner software. Prices start at only $10, and you can see more detailed statistics, for other markets and periodicity. Click here to find out more!

Pattern name: Southern Doji
Scanner settings: daily stocks
Group: S&P500
Number of symbols: 502
Date range: 7/1/1995 - 6/30/2015
Time interval: daily candles
Total number of candlesticks: 2,236,421
Number of occurrences (Southern Doji): 9,642
Number of occurrences (all candlestick patterns): 638,570
% of occurrences (Southern Doji): 1.51 %
Average frequency: 231.9
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
5 1,635 2,582 1,975 3,445
% of
Occurrences
0.05 % 16.91 % 26.78 % 20.48 % 35.78 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
7 1,548 2,030 1,620 4,437
% of
Occurrences
0.07 % 15.98 % 21.05 % 16.80 % 46.10 %

 

10 top best performing symbols

Occurrences Statistics 5 candlesticks testing period
(HIGH efficiency)
10 candlesticks testing period
(HIGH efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
LLTC 19 264.9 12 63.16 % 15 78.95 %
BDX 19 264.9 12 63.15 % 15 78.94 %
EA 23 218.9 15 65.22 % 17 73.92 %
TAP 21 239.7 12 57.14 % 15 71.43 %
RRC 54 93.2 34 62.97 % 38 70.37 %
XLNX 20 251.7 12 60.00 % 14 70.00 %
PVH 42 119.9 24 57.14 % 29 69.05 %
SBUX 19 264.9 11 57.89 % 13 68.42 %
IR 21 239.7 10 47.62 % 14 66.67 %
BIIB 21 239.6 13 61.90 % 14 66.66 %

 

10 top worst performing symbols

Occurrences Statistics 5 candlesticks testing period
(FALSE efficiency)
10 candlesticks testing period
(FALSE efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
MU 18 279.7 8 44.44 % 8 44.44 %
CELG 48 104.9 20 41.67 % 20 41.67 %
CHK 46 109.4 18 39.13 % 18 39.13 %
VRSN 18 243.4 7 38.89 % 7 38.89 %
WDC 18 279.7 7 38.89 % 7 38.89 %
LH 45 111.9 17 37.78 % 17 37.78 %
TYC 20 251.7 7 35.00 % 7 35.00 %
MRO 26 193.6 9 34.62 % 9 34.62 %
COF 21 239.7 7 33.33 % 7 33.33 %
ETFC 21 226.1 7 33.33 % 7 33.33 %
Pattern name: Southern Doji
Scanner settings: daily stocks
Group: S&P500
Number of symbols: 502
Date range: 7/1/2010 - 6/30/2015
Time interval: daily candles
Total number of candlesticks: 614,034
Number of occurrences (Southern Doji): 1,692
Number of occurrences (all candlestick patterns): 166,328
% of occurrences (Southern Doji): 1.02 %
Average frequency: 362.9
Efficiency statistics (5 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
5 180 532 480 495
% of
Occurrences
0.30 % 10.34 % 31.44 % 28.37 % 29.55 %

 

Efficiency statistics (10 candlesticks testing period)

Efficiency NO DATA FALSE LOW MEDIUM HIGH
Number of
Occurrences
7 162 399 370 754
% of
Occurrences
0.41 % 9.16 % 23.58 % 21.87 % 44.98 %

 

10 top best performing symbols

Occurrences Statistics 5 candlesticks testing period
(HIGH efficiency)
10 candlesticks testing period
(HIGH efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
NEM 12 104.8 5 41.67 % 9 75.00 %
TAP 7 179.7 4 57.14 % 5 71.42 %
WYNN 7 179.7 3 42.85 % 5 71.42 %
FTI 7 179.7 4 57.14 % 4 57.14 %
HCBK 7 179.7 4 57.14 % 4 57.14 %
SEE 7 179.7 3 42.85 % 4 57.14 %
STX 7 179.7 2 28.57 % 3 57.14 %
TSO 7 179.7 4 57.14 % 4 57.14 %
XLNX 7 179.7 2 28.57 % 4 57.14 %
DO 9 139.8 1 11.12 % 5 55.56 %

 

10 top worst performing symbols

Occurrences Statistics 5 candlesticks testing period
(FALSE efficiency)
10 candlesticks testing period
(FALSE efficiency)
Symbol Number of
Occurrences
Average
Frequency
Number of
Occurrences
% of
Occurrences
Number of
Occurrences
% of
Occurrences
RIG 7 179.7 4 57.14 % 3 42.86 %
CHK 8 157.3 3 37.50 % 3 37.50 %
HAS 7 179.7 2 28.57 % 2 28.57 %
HES 7 179.7 2 28.57 % 2 28.57 %
VZ 7 179.7 2 28.57 % 2 28.57 %
XLNX 7 179.7 2 28.57 % 2 28.57 %
SE 8 157.3 2 25.00 % 2 25.00 %
SLB 8 157.3 2 25.00 % 2 25.00 %
XEC 8 157.3 2 25.00 % 2 25.00 %
ESV 11 114.4 2 18.18 % 2 18.18 %

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