Hammer to inverted Hammer

• 05/14/2018 at 11:50 PM #70437
  cgraubner

  Hi everyone,

  could someone please help me to change this code to an inverted hammer?

  REM Hammer c31 = ABS(Min(Close,Open) - High) <= (AverageTrueRange[14](Close)/atrDoji) AND ABS(Max(Close,Open) - High) <= (AverageTrueRange[14](Close)/atrDoji) AND (ABS(Close - Open) < AverageTrueRange[14](Close)/atrDoji) AND (Min(Close,Open) - Low >= AverageTrueRange[14](Close)/atrLongue) RETURN c31

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  REM Hammer c31 = ABS(Min(Close,Open) - High) <= (AverageTrueRange[14](Close)/atrDoji) AND ABS(Max(Close,Open) - High) <= (AverageTrueRange[14](Close)/atrDoji) AND (ABS(Close - Open) < AverageTrueRange[14](Close)/atrDoji) AND (Min(Close,Open) - Low >= AverageTrueRange[14](Close)/atrLongue)   RETURN c31

  because this code for an inverted hammer, does not consider inverted hammers with a shadow:

  REM Detection of "black gravestone" or "inverted hammer" candlestick formations. MarteauInverse = close>open AND low=open AND (high-close)>=3*(close-open) IF MarteauInverse THEN structure=1 ELSE structure=0 ENDIF RETURN structure AS"Gravestone or Inverted Hammer Detection"

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  REM Detection of "black gravestone" or "inverted hammer" candlestick formations. MarteauInverse = close>open AND low=open AND (high-close)>=3*(close-open)   IF MarteauInverse THEN      structure=1      ELSE      structure=0 ENDIF   RETURN structure AS"Gravestone or Inverted Hammer Detection"

  Thank you so much!:)

   

  

  cgraubner

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  05/15/2018 at 12:15 AM #70440
  robertogozzi

  The Inverted Hammer is required to have an upper shadow at least twice the size of the real body (whose color does not matter), while there should be a little o no lower shadow, this is the code (for the lower shadow the percentage can be changed to your likings):

  Inverted Hammer

  RealBody = abs(close - open) UpperShadow = high - max(open,close) LowerShadow = min(open,close) - low InvertedHammer = (RealBody <= (UpperShadow * 0.5)) AND (LowerShadow <= (RealBody * 0.05))

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  RealBody       = abs(close - open) UpperShadow    = high - max(open,close) LowerShadow    = min(open,close) - low InvertedHammer = (RealBody <= (UpperShadow * 0.5)) AND (LowerShadow <= (RealBody * 0.05))

  InvertedHammer will be set to 1 if true, 0 otherwise.

  2 users thanked author for this post.

  atxeel, cgraubner

  

  robertogozzi

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  05/15/2018 at 1:37 AM #70450
  cgraubner

  Thank you very much, this is exactly what I was looking for!;)

  

  cgraubner

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