2 Minute Hammer
Table of Contents
These alerts report when there is a traditional hammer pattern on a standard candlestick chart. Because the closing price is so important to a hammer trading pattern, we only report these at the end of the timeframe. The different alerts work on charts of different timeframes.
The last candle in a hammer pattern has no upper wick, a small body, and a large lower wick. This candle must occur in a downtrend. We associate this alert with the color green because most traders see a hammer as a reversal pattern.
More options related to these alerts are listed below.
Alert Info for 2 Minute Hammer [HMR2]
- description = 2 minute hammer
- direction = +
- keywords = Candle Pattern End Of Candle Fixed Time Frame
- flip_code = 2 minute hanging man [HGM2]
- parent_code =