Wizard DOJI SEEKER 2

How to Use the Indicator

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."