i want to write a rule for a hammer which satisfies ur all 4 conditions and additionally it has a open and close difference not more then 3% and the difference between low and close is 5% or more then open and close difference with a very small /no upper shadow i.e. lower shadow > 5% of body and body shud be of a differece of 2%
You had sent me this on my qn related to hammer earlier;
Here are the Hammer Candle rules:
1- Small real body
2- Long lower shadow
3- No, or very short, upper shadow
4- Body below or near the lows of the previous candle
Hammer 1:
a = (((high-low) > 3*(open-close)) AND ((close-low) / (0.001 + high - low) > 0.6) AND ((open - low) / (0.001 + high - low) > 0.6));
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
0
