75 lines
3.6 KiB
Plaintext
Executable File
75 lines
3.6 KiB
Plaintext
Executable File
//@version=6
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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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dbg
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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, title = 'Bullish Hammer', location = location.belowbar, style = shape.triangleup, size = size.small, color = color.green)
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plotshape(bearish, title = 'Bearish Hammer', location = location.abovebar, style = shape.triangledown, size = size.small, 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)
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