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Chart-based Doji Indicator Seems Off

Doug Hayman

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Playing with some of the new chart-based Candle Patterns, and the Doji Pattern seems to miss some candidates and also give off some false positives as well.  Not sure what threshold you are using for the Open-Close delta relative to the share price.  But here's a sample hourly chart of MSFT, where a couple of bars are giving false positives, and several bars in this chart would have been better candidates, but weren't designated as Dojis:




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