Gösterge
Signal
Hammer Pattern Indicator

5.0
03/09/2025
207
Desktop


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
Değerlendirmeler: 1
5 | 100 % | |
4 | 0 % | |
3 | 0 % | |
2 | 0 % | |
1 | 0 % |
Müşteri değerlendirmeleri
August 18, 2025
Automatically detects hammer candlesticks, customizable, lightweight. Cons: No trend filter, no reliability scoring, possible false signals on low TFs.
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