Hammer

The hammer is a candlestick that is made of a small black body with a very long lower shadow. The open is at or near the high. In a downtrend market this is a bottoming signal.

Hammer

Parameters:

BarsBack BarsBack must be greater than MinBars.

The candlestick formation will be scanned this many bars back in the timeframe.

MinBars 0(Fixed)

The value of MinBars will be one less than the number of bars in the candlestick formation.