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