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:
https://www.tradingview.com/script/DIvkUsRu-Indicator-Hammer/
I made “making of” video too:
https://youtu.be/HqXB36gKrcU
