Description
Inverted Hammer is a bullish trend reversal candlestick pattern consisting of two candles.
The Inverted Hammer candlestick pattern is recognized if:
-
The first candle is bearish and continues the downtrend;
-
The second candle is short and located in the bottom of the price range;
-
The second candle has a long upper shadow and does not have the lower one.
Input Parameters
| Parameter | Description |
|---|---|
length
|
The number of candles used to calculate the average body height. |
trend setup
|
The number of preceding candles to check if the trend exists. |
body factor
|
The factor used when checking if a candle is short. A candle is considered short if its body height is lower than the average multiplied by this factor. |
shadow factor
|
The factor used when checking if a shadow is long. A shadow is considered long if its length exceeds body height multiplied by this factor. |
Plots
| Plot | Description |
|---|---|
Bullish
|
The Inverted Hammer candlestick pattern. |