The Inverted Hammer indicator is a candle pattern indicator that draws a signal on the chart whenever a matching candle pattern is formed. The indicator criteria are:
1. Upper shadow >= 60% of the real body Lower shadow <= 10% of the real body.
2. Candle can be green or red.
Candle patterns are some of the most commonly used technical analysis tools. This indicator allows you to quickly identify the Inverted Hammer Pattern either on the chart or in a separate window.
This will help you to scan the markets to analyse this signal against your trading strategy or to assist you in your trade management decisions.
For full indicator details and inputs visit the indicator page HERE.
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