This indicator looks for 3 rather strong patterns:
- Spinning Top pattern
- Hammer or Hanging Man
- Inverted Hammer or Shooting Star
These patterns may indicate a trend continuation or its reversal, depending on the location of the patterns.
Input parameters
- Zero - consider candles without a body
- Multiplier for hammerhigh - multiplier for the larger shadow of the Hammer
- Multiplier for hammerlow - multiplier for the smaller shadow of the Hammer
- Multiplier for wolf - multiplier for the shadows of the Spinning top candles
- Number of trend candles before signal - the number of trend candles before a pattern is formed
- Inform about finding the signal - alert when a signal is found
- Multiplier for hammerhigh specifies how many times the larger Hammer shadow must be larger than the Hammer body (increase the parameter value to filter signals).
- Multiplier for hammerlow specifies how many times the smaller Hammer shadow must be smaller than the Hammer body (decrease the parameter value to filter signals).
- Multiplier for wolf specifies how many times the larger Spinning top shadow must be larger than the Spinning top body (increase the parameter value to filter signals).
Indicator Features
- Suitable for any currency pair
- Operating timeframe: the EA works on any timeframe, all periods
- Calculates a large number of signals in history
- It has flexible signal identification settings
- It can send notifications when a signal is found
- It features a built-in signal filtering.
Signal Types
- Found the Spinning top pattern
- Found the Hammer pattern
- Found the Inverted Hammer pattern
