Indicator
Signal
Hammer Pattern Indicator
"Hammer Pattern Indicator" logo
5.0
03/09/2025
152
Desktop
Since 21/02/2025
Traded volume
454.45M
Pips won
174.76K
Sales
5
Free installs
3019
"Hammer Pattern Indicator" uploaded image"Hammer Pattern Indicator" uploaded image

Hammer Pattern Indicator – Strategy Explanation

This Hammer Pattern Indicator is a candlestick-based reversal signal that identifies bullish hammer patterns in a downtrend. It is designed to detect potential trend reversals and highlight buying opportunities.


How It Works

1️⃣ Detects Downtrend

  • The candle’s closing price must be lower than the close 3 bars ago, indicating a potential downtrend.

2️⃣ Validates Hammer Candlestick Structure

  • Small Body: The body of the candle is relatively small (≤ 30% of total range).
  • Long Lower Shadow: The lower wick is at least 2 times the body size (shows strong rejection of lower prices).
  • Short Upper Shadow: The upper wick is ≤ 30% of the body size (indicating little resistance at the top).

3️⃣ Plots a Buy Signal

  • If all conditions are met, a red dot (or a chosen color) appears slightly below the low of the hammer candle as a visual confirmation of a potential reversal.


Key Features

Filters weak signals by ensuring a prior downtrend.
Customizable parameters for body size, shadow length, and colors.
Simple yet effective candlestick pattern for swing traders and price action traders.

📌 Best Use: Confirm the hammer pattern with additional indicators (e.g., volume, support levels) for stronger signals! 🚀

5.0
Reviews: 1
5
100 %
4
0 %
3
0 %
2
0 %
1
0 %
Customer reviews
August 18, 2025
Automatically detects hammer candlesticks, customizable, lightweight. Cons: No trend filter, no reliability scoring, possible false signals on low TFs.
More from this author
Indicator
RSI
Indices
Forex
+3
ScalpingSignals9000
High-probability trading signals in the fast-paced world of forex and CFD trading.
Indicator
Indices
Prop
ATR
+4
TrendPulse
BrickAlgo TrendPulse is an advanced technical analysis tool that combines multiple indicators with filterin mechanisms.
Indicator
RSI
Indices
Signal
Rsi + Volume
This indicator combines RSI (Relative Strength Index) with volume analysis to generate more reliable trading signals.
SmartArrows AI V2
High-Performance Renko Chart Indicator with Advanced AI Filtering.
Indicator
Signal
Scalping
9-5-3 Trading Strat
Enhance Your Trading Strategy with the Larry Williams 9-5-3 Indicator
Indicator
Stocks
Forex
Signal
+1
Engulfing Pattern Indicator
Engulfing Pattern Indicator
EURUSD Breakout Indicator
Breakout Multi-Timeframe Strategy Indicator
Indicator
RSI
Signal
MA-RSI HTF Confirmation
MA-RSI HTF Confirmation: Eliminate false signals and trade with confidence!
Indicator
Stocks
Forex
Crypto
PinBarCandlestickPattern
PinBarCandlestickPattern Indicator
Indicator
Prop
Commodities
Stocks
+2
Light-Version BrickAlgo TrendPulse
🚀 Simplify Your Trading Decisions With Powerful Technical Analysis.
Renko Moving Average Cross Indicator
The Renko Moving Average Cross indicator combines classic EMA crossover signals with Renko-filtered prices.
Indicator
Signal
MACD
USDJPY
PulseTracker
Version 1.2: Advanced Trend Detection & Visualization System
cBot
Forex
Signal
MACD
SwingStratH6
Smart Trend cBot - Swing6h
Indicator
Forex
Signal
MACD
swingh6
Swing-Trading Indicaotr for pairs like EUR/USD, AUD/USD, and USD/JPY. Most effective on higher time frames H4,H6,H12...
ADX and ADI
This custom indicator is a complete implementation of the Average Directional Index and Directional Indicators.
You may also like
PVA Volume+Analysis_noSourceCode
PVA Volume Analysis Indicator:Price volume over trend strength and direction
Indicator
RSI
Indices
ATR
+3
Divergency 1.1_withSourceCode
🔍 Divergency Indicator for cTrader (Update v1.1)
DynamicVolumeSupplyDemand
Supply and Demand Zones
Buy and sell indicator
Buy and Sell Signals
Indicator
Breakout
AutoLines™ Support & Resistance
FlexSR auto‑detects pivot highs/lows to plot dynamic support & resistance lines Features customizable styling and option
ZigZag Price Liquidity Projection
📊 ZigZag Liquidity Projection: Predict bounces/breaks using pivots, ATR & volume.
VWAP_MTF
📊 VWAP with MTF & Dynamic Deviation Bands
Indicator
Indices
RSI
Stocks
+5
REDGREENZONEREVERSAL
The Red & Green Zone Reversal Indicator detects overbought and oversold market conditions using Bollinger Bands and RSI.
Microchannels
Microchannels
Open Trade PipsV1
This indicator tracks the unrealised amount of pips in your open positions.
Indicator
Grid
NAS100
NZDUSD
+15
RangeBoxFibonacci
With this Fibonacci retracement indicator, traders have full control over the retracement levels displayed on the chart.
Indicator
XAUUSD
Commodities
True Open Pivot Levels
This indicatorFull Description: Th shows the open price lines at key market times based on Eastern Standard Time (EST).
Indicator
Breakout
ORB v1
Opening Range Breakout (ORB) - Visual Edition
DMI 3 bar v2
Shows BUY & SELL signals for 3 & 4 BAR PATTERN (Morning star/ Evening star). It is adjustable and it will SHOW ARROWS.
session final
Comprehensive time session indicator
E7 Correlation Dashboard
E7 Correlation Dashboard.
Indicator
Breakout
Forex
On Balance Volume
On Balance Volume (OBV) measures buying and selling pressure as a cumulative indicator.
Indicator
RSI
Breakout
XAUUSD
+5
Prediction Based on Linreg & ATR
📊Predicts price movement by combining multi-timeframe trend analysis, market volatility 📉, and..