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The hammer and hanging man indicator is a candle pattern indicator that draws a signal on the chart whenever a matching candle pattern is formed. Upper shadow 10 of the real body, lower shadow 60 of the real body.
hammer and hanging man mt4 indicator could be used on any currency pair and during any time-frame. However, the shorter the time-frame the less reliable is the signal. If a candle meets the pattern recognition requirements after it closes, either a red or green dot is displayed to warn of a bearish or bullish signal accordingly.
Candlestick based pattern that identifies important reversal levels. A hanging man is a type of bearish reversal pattern, made up of just one candle, found in an uptrend of price charts of financial assets.
The hammer and hanging man indicator is a candle pattern indicator that draws a signal on the chart whenever a matching candle pattern is formed. Upper shadow 10 of the real body, lower shadow 60 of the real body. The signal is shown on the chart by a blue circle below the.
(body is 13 of tail) hammers occur after a downtrend or a price decline. The hammer candlestick shows sellers came into the market during the period but by the close, the selling had been absorbed and buyers had pushed the price back to near the open.
A hanging man is a type of bearish reversal pattern, made up of just one candle, found in an uptrend of price charts of financial assets. It has a long lower wick and a short body at the top of the candlestick with little or no upper wick.
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