What are Doji Candlesticks?
The Doji candlesticks are very similar to the spinning tops, except that it does not have a real body at all the open and close prices are equal. The upper and lower wicks can be of any length.
However in reality, even if there is a very thin body, the candle can be considered as a Doji. What matters is the opening and closing prices being very close to each other. The color of the candle does not matter in case of a thin real body.
What indication does the Doji candlestick provide?
The Doji candlesticks suggest that there is indecision in the market and could swing either ways. In fact more often than not, the dojis and spinning tops appear in a cluster indicating indecision in the market.