Wizard DOJI SEEKER 2
Use the input settings to adjust the behavior of the indicator:
Tick Movement Threshold: Define the price range to identify significant movements.
Doji Type: Choose which type of Doji to detect (Standard, Dragonfly, Gravestone, Long-Legged).
TP Line Extension: Set how far the TP lines extend to the right.
Highlight Color: Customize the area color between TP lines.
Analyze Doji Candles:
Look for Doji candles highlighted on the chart with labels.
These candles often indicate market indecision or potential reversals.
Follow TP Levels:
Use the green (bullish) and red (bearish) TP lines to identify potential breakout or retracement levels.
The "BREAK" labels help traders quickly locate key levels.
Focus on Highlighted Areas:
The highlighted area between TP levels can act as a support/resistance zone or a range to monitor for breakouts.
How Traders Can Use This in Strategies
Reversal Strategy:
Wait for a Doji to appear at significant levels (e.g., support, resistance, trendlines).
Use the TP levels as targets for potential breakouts.
Breakout Strategy:
Monitor the highlighted area between TP lines for a breakout.
A break above the green line may signal a bullish trend continuation, while a break below the red line may indicate bearish continuation.
Range Trading:
Trade within the highlighted range by buying near the green line and selling near the red line.
Confirmation with Other Indicators:
Advantages
Visual Simplicity: Clearly highlights key levels and zones for decision-making.
Customizable: Adaptable to different trading styles and asset classes.
Dynamic: Updates in real-time as new Doji candles and levels are detected.
Limitations
Not a Standalone Strategy:
The indicator provides visual guidance but does not guarantee profitable trades. It should be used with proper risk management and in combination with other tools.
Requires Fine-Tuning:
Input parameters may need adjustment for different timeframes or assets.
"Disclaimer: This indicator is intended for educational purposes only and does not constitute financial advice. Trading involves significant risk, and users should perform their own research and consult with a licensed financial advisor before making any trading decisions."
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact WIZARDTRENDS directly.
Note that this private, invite-only script has not been reviewed by script moderators, and its compliance with House Rules is undetermined. TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
Disclaimer
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact WIZARDTRENDS directly.
Note that this private, invite-only script has not been reviewed by script moderators, and its compliance with House Rules is undetermined. TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.