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CDLHAMMER

Type: cdlhammer • Category: indicators

Description​

Hammer

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
openstringno
highstringno
lowstringno
closestringno
patternstringno"CDLHAMMER"

Help​

CDLHAMMER

Description​

The CDLHAMMER is a candlestick pattern indicator used in financial analysis to identify a hammer pattern. This pattern is a bullish reversal indicator that forms when the market is in a downtrend.

What does this worker do?​

The CDLHAMMER worker analyzes price data to identify the hammer pattern, which is characterized by a small body and a long lower wick. The pattern indicates that the bears are losing control, and the bulls are starting to gain strength.

How to interpret the results​

When the CDLHAMMER indicator identifies a hammer pattern, it can be interpreted as a bullish signal. This means that the market is likely to reverse its downtrend and start moving upwards. However, it's essential to consider other technical and fundamental analysis tools to confirm the signal.

Usage​

To use the CDLHAMMER indicator, simply pass the required parameters:

  • dataExp: prices data
  • open: open prices
  • high: high prices
  • low: low prices
  • close: close prices
  • pattern: the hammer pattern

Example​

For a better understanding of how to use the CDLHAMMER indicator, you can refer to the following GIFs:

Full GIF​

[![Full GIF](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)

Short GIF​

[![Short GIF](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)

Additional Information​

The hammer pattern is a well-known candlestick pattern in technical analysis. It's essential to note that the CDLHAMMER indicator should be used in conjunction with other forms of analysis to increase the accuracy of the signals. The indicator can be used on various financial instruments, including stocks, forex, and cryptocurrencies.

Parameters​

The CDLHAMMER indicator requires the following parameters:

  • dataExp: prices data
  • open: open prices
  • high: high prices
  • low: low prices
  • close: close prices
  • pattern: the hammer pattern

By using the CDLHAMMER indicator, traders and analysts can identify potential bullish reversals and make more informed investment decisions.