83 lines
3.7 KiB
Plaintext
Executable File
83 lines
3.7 KiB
Plaintext
Executable File
//@version=5
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strategy("Hammer Candle Strategy", overlay=true, initial_capital=10000, default_qty_type=strategy.percent_of_equity, default_qty_value=100)
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// Inputs for customization
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hammertBodyRatio = input.float(0.3, title="Max Body Size Ratio", minval=0.1, maxval=0.5, step=0.1)
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hammerWickRatio = input.float(2.0, title="Min Wick to Body Ratio", minval=1.0, maxval=5.0, step=0.1)
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// Function to determine if a candle is bullish or bearish
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is_candle_bullish(index) =>
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close[index] > open[index]
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is_candle_bearish(index) =>
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close[index] < open[index]
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// Hammer Candle Detection Function
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//isHammer() =>
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string dbg = ""
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bodySize = math.abs(close - open)
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totalRange = high - low
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// Calculate upper and lower wicks
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upperWick = high - math.max(close, open)
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lowerWick = math.min(close, open) - low
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// Check if body is small (less than 30% of total candle range)
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isSmallBody = bodySize <= (totalRange * hammertBodyRatio)
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//plotchar(isSmallBody, title="lw", char='-', location=location.abovebar, color=#40fbf5, size=size.small)
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// Lower/Upper wick should be at least 2x the body size and significantly long
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bool isLongUpperWick = upperWick >= (totalRange * 0.5) and upperWick >= (bodySize * hammerWickRatio)
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bool isLongLowerWick = lowerWick >= (totalRange * 0.5) and lowerWick >= (bodySize * hammerWickRatio)
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//plotchar(isLongUpperWick, title="LW", char='L', location=location.abovebar, color=color.fuchsia, size=size.small)
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//plotchar(isLongLowerWick, title="lw", char='l', location=location.belowbar, color=color.fuchsia, size=size.small)
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// Minimal lower/upper wick
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bool isShortUpperWick = upperWick <= (bodySize * 0.5) or upperWick <= (totalRange * 0.2)
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bool isShortLowerWick = lowerWick <= (bodySize * 0.5) or lowerWick <= (totalRange * 0.2)
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//plotchar(isShortUpperWick, title="Bullish Candle", char='S', location=location.abovebar, color=color.fuchsia, size=size.small)
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//plotchar(isShortLowerWick, title="Bullish Candle", char='s', location=location.belowbar, color=color.fuchsia, size=size.small)
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// Bullish Hammer (Green/White)
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isBullishHammer = isSmallBody and isShortUpperWick and isLongLowerWick //and is_candle_bearish(1) and is_candle_bearish(2) // and close > open
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// Bearish Hammer (Red/Black)
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isBearishHammer = isSmallBody and isLongUpperWick and isShortLowerWick // and is_candle_bullish(1) and is_candle_bullish(2) // and close < open
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if (isBearishHammer)
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dbg := "TEST: " + str.tostring(isShortUpperWick) + " | "+ str.tostring(upperWick) + " | "+ str.tostring(bodySize) + " | "+ str.tostring(totalRange) + " | "
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// [isBullishHammer, isBearishHammer, dbg]
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//[bullish, bearish, deb] = isHammer()
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bullish = isBullishHammer
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bearish = isBearishHammer
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// Plot a '*' when close is above open (bullish candle)
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plotchar(bullish, title="Bullish Candle", char='*', location=location.belowbar, color=color.green, size=size.small)
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// Plot an '*' when close is below open (bearish candle)
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plotchar(bearish, title="Bearish Candle", char='*', location=location.abovebar, color=color.red, size=size.small)
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bullish := isBullishHammer and is_candle_bullish(1) and is_candle_bullish(2)
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bearish := isBearishHammer and is_candle_bullish(1) and is_candle_bullish(2)
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// Plot hammer candle markers
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plotshape(bullish,
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title="Bullish Hammer",
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location=location.belowbar,
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style=shape.triangleup,
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size=size.small,
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color=color.green)
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plotshape(bearish,
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title="Bearish Hammer",
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location=location.abovebar,
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style=shape.triangledown,
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size=size.small,
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color=color.red)
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// Trading logic
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if (bullish)
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strategy.entry("Long", strategy.long)
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if (bearish)
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strategy.entry("Short", strategy.short) |