A doji candle is a type of candlestick pattern that appears on a chart when the opening and closing prices of a security are almost identical. It is a neutral indicator that suggests indecision between buyers and sellers in the market. A doji can be viewed as a sign of possible reversal of price direction, but it can also be viewed as a continuation pattern. There are different variations of doji candle patterns, including the long-legged doji, gravestone doji, and dragonfly doji. The long-legged doji has longer upper and lower shadows than the regular doji formation, while the gravestone doji and dragonfly doji are bearish and bullish reversals, respectively. The doji candle pattern is not a reliable tool for spotting things like price reversals, and it should be used alongside other metrics.