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About scanning candlestick

Hey guys:
I am writing scanning formula to search the classic candlestick such as hammer. So I write the formula like this :

[type is stock]
and [country is US]
and [Close > 15]
and [Volume > 300000]
and [low < open]
and [close > open]
and [high > close]
and [PctDiff(AbsVal(close - open), AbsVal(open- low)) < 30]
and [PctDiff(AbsVal(close - high), AbsVal(close - open)) < 5]

But it seems that the result is not so good because the result count is 0. Can anyone tell me what's wrong with this
formula? Thanks.

Best Answer

  • Options
    markdmarkd mod
    edited July 2015 Answer ✓
    If you are ok with the canned definition, it's

    and [Hammer is true]

    This is available from the Candlestick Patterns drop down on the advanced scan page. Also look under "Candlestick Building Blocks" for more options.

    If you want to customize your hammer, just put the open and close both above the midpoint or some where above the midpoint. For instance:

    and [open > low + [ range *.8]]
    and [close > low +[ range * .8]]
    and [absval(close-open) < range *.1]


  • Options
    I'm new to charting... sorry. I understand... and [Hammer is true]. However, if I want to modify this, does anyone actually know EXACTLY what is behind/underneath the parameters of the variable "Hammer"? What if I want to only look for doji with extremely Long shadows, or body's that meet certain parameters that are in the top 25% of the shadow, etc?

    Any help please... thank you!
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