Analysis Techniques & Strategies

image\insert_showme.gif  C_Hammer_HangingMan (ShowMe)

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Hammer  Hanging Man

C_Hammer_HangingMan displays a ShowMe for two Japanese candlestick patterns; Hammer and Hanging Man.

Hammer is defined as:

Hanging Man is defined as:

Input Information

Name Default Description
Length 14 Length used to calculate the average body
Factor 2 Threshold factor for the size of body in relation to the range of the bar ( 2 = Tail must be 2x larger than body)

Description

Hammer may be considered a bullish reversal bottom pattern, that needs confirmation.

Hanging Man may be considered a bearish reversal top pattern  that needs confirmation.

Plots

Hammer plots on the High when true for the current bar.

Hanging Man plots on the Low when true for the current bar.