hammer

Function Name: hammer

Tags: None

Category: Candlestick, Pattern

The hammer pattern usually occurs on a downtrend, and it is named so because this pattern is believed to hammer out a bottom. Hammers indicate a bullish market on the horizon. A hammer requires that the bar have a short body and that the lower shadow has to be at least twice as long as the real body of the candlestick.

The Hammer study marks a bar if a hammer pattern occurs.

 

Link:       http://www.investopedia.com/terms/h/hammer.asp

 

Parameters

Period

 

Default Value: 5  |  Minimum: 1  |  Maximum: 9999

 

Type: Numeric

NBars

 

Default Value: 1  |  Minimum: 0  |  Maximum: 2

 

Type: Numeric

Tail

 

Default Value: 2  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric

ShowTraderBar

 

Default Value: -1

 

Type: Boolean

ShowTraderMark

 

Default Value: -1

 

Type: Boolean