The "Hammer and Inverted Hammer" indicator is straightforward and effective. It automatically spots key candlestick patterns for you, making it easier to see potential market turns. You can also adjust a few settings to fit your trading style. Simple, yet quite handy for traders!
Alerts for Hammer Pattern: When the script identifies a Hammer pattern, it can...
Pin candles are a variation of hammer candles that are useful in technical analysis . In particular, when combined with volume profile studies, they can be a powerful set up for long entries or other decision making.
For example, when looking at volume profiles, a long entry would be a fair value area (i.e. 40%) below the close of a pin candle. When combined with...
The Pin Bar indicator is a pattern recognition indicator for Forex, Stocks, Indices, Futures, Commodities and Cryptos.
The strategy that comes with the Pin Bar pattern is based on price action.
Inputs of the indicator are:
MaxBars: maximum number of bars back to calculate searching for signals
BuySignals (true/false): you can filter signals and decide to show...
Special filtered version of Pin Bar signals
Stop and first/second target drawings
Candle colors for Pin Bars and first targets
Alert conditions for Pin Bars, targets and stops
Red and green plotchars for Pin Bar identification
More to come..
