This indicator allows detection of candlesticks of the type “Hammer”/”Black hanging man” (=1) and “Inverted hammer”/”White gravestone” (=-1) on charts.

REM Detection of Inverted hammer / White gravestone
IF close>open and low=open and (high-close)>=3*(close-open) THEN
     a=-1
     
ELSIF close>open and high=close and (open-low)>=3*(close-open) THEN
     
     REM Detection of Hammer / Black hanging man
     a=1
     
ELSE
     
     REM No detection
     a=0
     
ENDIF

RETURN a

Download

Filename: Hammer.itf

Downloads: 191

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