Hi guys
This script will help you to find Hammer candles and also Shooting star candles.
These candle patterns indicate price reversal probability and should evaluate in bigger price context before using as a signal.
I hope you find it helpful and enjoy it.
Please leave your comments for improving this script.
Most Advanced & Accurate CandleStick Pattern Detector
Looking All Over of All Markets for All Important Powerful Reversal | Corrective Patterns (25 type)
Filtering the Results with Optional Features like Oscillator, Bollinger Bands, Volume Confirmation, Prior and Following Candles Confirmation which are Fully Customizable.
With this you can detect:
Hammer...
Abstract
This script computes the strength of pin bars.
This script uses the corrent and the previous two bars to compute the strength of pin bars.
The strength of pin bars can be also comared with average true range, so we can evaluate those pin bars are strong or weak.
Introduction
Pin bar is a popular price action trading strategy.
It is based on quick price...
I am really excited to publish my work, I know its at the beginning but there is a lot to come in the future. I am writing a script to identify the candlestick patterns. In this version, I have added Hammer and Hanging Man Pattern in the first version, I know its less but its a beginning, I will keep adding the new information in my script in upcoming...
A hammer candle is defined here as 1) the lower shadow (wick) is at least twice the length of the main body and 2) the close is in the top half of the range.
A shooting star has the opposite conditions 1) the upper shadow is at least twice the size of the main body and 2) the close is in the lower half of the range.
These candles should not be used by themselves...
HG Scalpius H & SS Scan
This indicator highlights hammer candles and shooting star candles based on the below definitions:
Hammer = lower wick >= 2* real body and closes in top half of range
Shooting Star = upper wick >= 2*real body and closes in bottom half of range
hammer = (min(open,close)-low)>= (2*abs(open-close)) and close >...
This script detects an event created by Oliver Velez, it is a wide-range candle with a small body and a long tail (hammer-type candle), its range is noticeably larger than previous candles, as a rule it can be taken that the body should be maximum of 30% of the total range of the candle with a long tail. The stop goes under the tail and the signal is given when...
Doji & hammers marker marks:
- long/ short doji star ( marks as doji star )
- doji grave
- doji dragonfly
- hammer
- falling star
- hanging man
- reversed hammer
Simple script to detect and mark possible reversal candlesticks - "hammer" and reversed version "hanging man".
hammer:
en.wikipedia.org(candlestick_pattern)
hanging man:
en.wikipedia.org(candlestick_pattern)
This is a basic strategy that will buy after a hammer is printed, and sell when a predetermined risk or reward price is hit. You can change the risk and reward values in the settings. Risk and reward values are in increments of $0.01. Default values are 75 ($0.75) and 200 ($2.00). If the strategy is producing losses, try adding a zero to the end of the risk value...
This script can be used to spot hammers on the charts, I try to avoid false positives by ignoring candles which have less than 0.25% price difference between open and close.
This script help to identified popular candlestick pattern combined with trend identifier.
Most script only focus on criteria of the pattern. Such as how much the length of the body compared to previous candle etc.
Besides criteria of the candle, this script also considered the trend into the logic.
For example bullish engulfing is a bullish reversal signal, which...
