Hammer
October 12, 2015, 8:07 PM
Indicators
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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
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Filename:
Hammer.itf
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