What is a gravestone doji Candlestick?

One of these patterns is the Gravestone Doji candlestick, which can be observed quite often on the candlestick chart. A Gravestone Doji is a bearish candlestick pattern with a very short or preferably invisible body and a long upper shadow. Ideally, the open, low, and close prices should be relatively at the same level.

What is a gravestone doji & dragonfly doji?

The Gravestone Doji and Dragonfly Doji are two candlestick patterns that are utilized in technical analysis to forecast future price movements. The Gravestone Doji is just a bearish reversal pattern that suggests potential uptrend weakness, whereas the Dragonfly Doji is indeed a bullish reversal pattern that offers potential downtrend strength.

Is gravestone doji a good reversal pattern?

Also, the Gravestone Doji is very similar to the Shooting Star pattern. As both reversal candlesticks appear at the top of uptrends and have longer upper shadows. The main difference is Shooting Star has a visible body whose close price should be ideally below the open. In conclusion, the Gravestone Doji is a great pattern.

How do I use a gravestone Doji in chartmill?

The gravestone pattern can be used as a screening filter in ChartMill. To do so, open the TA indicators menu on the stock screener page and open the drop-down menu under 'candlestick'. Then select the Gravestone Doji.