Hammer & Inverted Hammer Indicator

Category: Indicators By: Henry Created: November 24, 2016, 1:37 PM
November 24, 2016, 1:37 PM
Indicators
9 Comments

The Hammer & Inverted Hammer indicator to add directly on the price chart. Only compatible with ProRealTime version 10.3 and above.

REM Detection of Inverted hammer / White gravestone
IF close>open and low=open and (high-close)>=3*(close-open) THEN
 DRAWARROWDOWN(barindex, high+2*pointsize)
 DRAWTEXT("Inverted Hammer", barindex, high+5*pointsize)

ELSIF close>open and high=close and (open-low)>=3*(close-open) THEN

 REM Detection of Hammer / Black hanging man
 DRAWARROWUP(barindex, low - 2* pointsize)
 DRAWTEXT("Hammer", barindex, low-5*pointsize)
ENDIF

RETURN

 

Download
Filename: Hammer-and-Inverted-hammer.itf
Downloads: 549
Henry Average
Hi! I'm moderating the English speaking forum on my free time. I'll try to answer your questions as good as I can and I also post the answers to code requests that were addressed directly to ProRealTime.
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