Hammer+ Indicator

https://youtu.be/SinsOuSYAVQHere I’m gonna code the Hammer+ Japanese Candlestick pattern and I’ll be using Pine from TradingView as script language. I think is based on python if I have to say something about it.

One of the many definitions that could be out there I’ll will be using this one that meets the next conditions:

Set 1:
1. open > close
2. 3*(open – close) <= high – low
3. 2*(high – open) <= close – low

Set 2:
4. low < low[1] and low[1] < low[2] and low[2] < low[3]
5. high < high[1] and high[1] < high[2] and high[2] < high[3]
6. Minimum distance between patterns should be more than 4 bars

You can check de code on:

I made “making of” video too:

Author: LC

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