Doji candles

Candles, in which there is no body, because the opening price is equal to the closing price are called doji candles (jap. fool, clumsy, slip of the tongue).

Note that CandleScanner can also classify a candle as a doji when the opening and closing prices differ by a very small amount (in theory, a doji should not have a body, but the difference may be negligible and then on the chart is hardly visible). For more on this please see the following articles: The problem with doji candles (Part 1) and The problem with doji candles (Part 2).

Doji may occur with or without shadows.

There are the following types of doji candles:

In CandleScanner the doji candles are marked in red color by default when using the CandleScanner color theme. All of these basic candles can be part of candlestick patterns, and therefore, it is important to know if we are dealing with a doji candle or a spinning top. It is easy to mix them up when a spinning top has a very small body, which looks on the chart as if the open and close prices are equal.

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