The perfect hammer candle
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How can I create an opening position on a selected candle or after it. Should look the same as the picture without the lower wick. Should be defined in the pips length of the upper wick. Her body should also be the right amount in pips.
I create EA, but it opens positions on various candles not just hammers.
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I think, you need find this hammer on % based sizes ... it is not easiest ... using custom code block you can find here inspiration:
https://fxdreema.com/forum/topic/4321/tutorial-08-candle-formations/2 (at bottom)
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This is great. Thank you! That helped me a lot.
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@miro1360 I did everything just like in the tutorial about hammer.
The hammer candle is not detected. There is no signal. What could I do wrong? I tested all on the M1 chart because H1 and H4 is a high interval for me.Here is a link to the project can you check it please? https://fxdreema.com/shared/OzKaEHI0d -
was not easy find your bug, but I found it
...
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variables Open Close High Low you can also rename for something else, like Open1 Close1 High1 Low1, but it is not must, it was testing as example shows and was working ...
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@miro1360 Thank you very much.I do not know how it happened but in some fields I had -1 too.Now after the change everything works
but to find perfect hammer the wick size in pips is missing and sometimes the upper part candle show the wick. I can not distinguish bull hammer and bearish hammer .
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yes, because the code which I provided is not complete for "perfect" hammer .... when you specify here (with picture) how it looks like and when we set math conditions (as % for each part of this candle) than we are able create something better
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I think this looks good.Wick only on one side, quite long and about 1/4 candle is the body.
The candle was bullish so the signal should be sell. When the candle will be wicked from the bottom and will be bearish then should be the Buy signal.I created something like that but there is still a problem with wicks on both sides.
That's how it looks with settings 1.5 and 1.0 in Value.
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take this as standard bullish candle example:
now we need to do math, how are these candle parts aligned with some tolerances ...
lets say, "nice hammer" must have:
(a > 7%L) && (a < 30%L) >>> body size is in 7-30% of whole candle sizenext:
(a < 10%c) >>> upper wick must be fewer than 10% length of lower wick c (this align body upper mid candle)next can be:
(L > 10pips) >>> take only candlew which size is more than 10pips.... etc. ...
and when you define these limits or tolerances, than you can create conditions for nice hammer
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I was trying to make ea based on candle vicks but i couldn't move anywhere . This is something which i was looking at. MIro are you interesting to share ea when you finish it?
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@miro1360
I understand general principles, but how to do it in Fxdreema? Can you help? -
sure I make it, but are you knowing about more conditions or specifications/limits for this "perfect" hammer? because we want only nice hammers in result and these needs be specified
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I can only say that it has about 15-30% candle is the body and wick maybe more than 10pips.I do not know exactly how to check this.I attached photo with hammer earlier
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super .... and what si position of this body related to whole candle?
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@miro1360 When is a bull candle this body is at the bottom of the candle - sell signal and when there is a bear candle, the body of the candle is at the top - buy signal
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now we know this:
- body size is in 15-30% of whole candle size
- upper wick is more than 10pips
- lower wick must be fewer than 10% length of upper wick
- take only candle which total size is more than 10pips
I think we need here last comparison and it is body size to upper wick size, how much is min and max % body size of upper wick size?
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@miro1360 I think 10-25%
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ok, here is something based on conditions above, try it with default settings on H1 chart ... than you can modify and find best parameters (try for different timeframes) ... and be sure you measure all candles which are not "ok" or are not found, measure their pips (total pips, body pips, upper wick pips and lower wick pips) and than we check conditions for errors ...
this is only for bull hammer, bear hammer we find when we completize bull (because it is the same, only few conditions are opposite) ...
https://fxdreema.com/shared/Vsb2bTWec
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I really appreciate your work. I'm going to test it and I will report here
Thank you!
