Hammer Scanner v1
This script is for helping you to find bullish and bearish hammers.
Versionsinformation:
Added more varieties of hammer candles.
There are 4-types in total:
- Hammer (Bullish)
- Inverted Hammer (Bullish)
- Hanging Man (Bearish)
- Shooting Star (Bearish)
You should always use candlesticks in combination with other indicators such as oscillators, moving averages, Bollinger bands.
There are 4-types in total:
- Hammer (Bullish)
- Inverted Hammer (Bullish)
- Hanging Man (Bearish)
- Shooting Star (Bearish)
You should always use candlesticks in combination with other indicators such as oscillators, moving averages, Bollinger bands.
Versionsinformation:
Added user requested feature for the maximum height of body to be 1/3 that of the shadow.
Added user control to define the maximum height of the tail to be 1/2 that of the body.
Diagram:
—————————
Tail / Body / Shadow
Default Rules:
1) Tail no taller than 1/2 the body height.
2) Body no taller than 300 pips.
3) Body must be shorter than 1/3 of the shadow.
Added user control to define the maximum height of the tail to be 1/2 that of the body.
Diagram:
—————————
Tail / Body / Shadow
Default Rules:
1) Tail no taller than 1/2 the body height.
2) Body no taller than 300 pips.
3) Body must be shorter than 1/3 of the shadow.