Hammer and Hanging Man MT4 Indicator
Explore All MT4 Indicators
- Daily Pivot Points and OHLC Auto
- Initial Balance Strategy Indicator
- Moving Average Tracker Indicator
- Moving Average Trend Synchronizer
- Trend Tracker
- Gap Manager
- Risk to Reward Calculator
- Pin Bar Pattern Manager
- Rising Falling Method Patterns
- Range Breaker
- Candle Timer
- Candle Range
- Round Levels
- Trading Time Zones
- Gap Detector
- Risk to Reward Tool
- Trade Point Measure
- FX News on Chart
- Trade Manager basic (EA)
- Engulfing Candle Pattern
- Engulfing Candle by Number
- Engulfing Candle by Size
- Harami and Harami Cross
- Dark Cloud Cover Pattern
- Piercing Pattern
- Hammer and Hanging Man
- Inverted Hammer
- Pivot Points and OHLC Manual
- Pivot Points Manual
- Open, High, Low and Close Manual
- FX Daily Pivot Points
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. The indicator criteria are:
1. Upper shadow <= 10% of the real body, Lower shadow >= 60% of the real body.
2. Candle can be green or red.
The signal is shown on the chart by a blue circle below the candle. Indicator includes alert notifications.
Candle patterns are some of the most commonly used technical analysis tools. This indicator allows you to quickly identify the Hammer and Hanging Man 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.
Metatrader 4 – MT4.
The indicator signals are displayed in a separate window off chart (oc).
Signal on Chart
Signal off Chart
Frequently Asked Questions
After you purchase your indicator, you will see a purchase confirmation page. On this page you will be able to download your purchased indicator. You will also receive an email some time after purchase with another copy of the download link.
You can find full instructions on how to install and activate in this article: How to Install and Use MT4 Custom Indicators and EAs (full guide).
No, custom MT4 indicators and EAs only work on the desktop version of MT4. It is also recommended that you checkout on a PC.
You will be directed to a checkout page to complete your download. If it is a free indicator then you will just need to put in your name and email address and then you will receive access to the free download.
We collect names and email addresses during download as a way to discourage bots from downloading from the site.
We will use your email address to send automated confirmations of your downloads or purchase. We may send further correspondence to you regarding updates on NothardTrading.com but you will be able to opt out of any correspondence if you choose.
No, sharing of the indicators or EAs that you download (whether free of paid) is not allowed by the licence terms. However, please feel free to share our website with others so that they can come and download themselves.
All downloads whether free or paid are subject to the Digital Download Terms And Conditions as found here: LINK.
There is no support available with the Free downloads. We are happy to receive feedback and suggestions, please send these via our contacts page: LINK.
These products are sold with limited support and ‘as is’. Information on the indicators, their purpose, functionality and inputs are available on each individual indicators page and associated PDF guide which is free to download and review.
For basic troubleshooting please email [email protected] with your purchase reference and we will respond within 24 hours (Monday-Friday).