About Scanner: Bullish Hammer Candlestick Scanner

What is Bullish Hammer Candlestick ?

A hammer candlestick signals a potential trend reversal, with a small body at the top and a long lower wick , indicating a stock may be bottoming out.

Key Points for a Bullish Hammer:

• Long Lower Wick shows strong rejection of lower prices.
• Small Body the small body near the top of the range indicates a potential reversal.
• Position in a Downtrend often occurs at the end of a downtrend, signaling a potential reversal.

Bullish Hammer Trading Strategy:

• Look for a Bullish Hammer after a downtrend, especially at support levels.
• Wait for confirmation with a bullish candle or increased buying volume.
• Combine with technical indicators like RSI or MACD for more reliable signals.

Warning

Don't trade based on a hammer pattern that hasn't fully formed.

Target

Short term - At least height of the candle.
Long term - Look at other aspects like volume spurt , recent support / Resistance levels and other technicals.

Stop Loss

Stop-loss set below the low of the hammer.

TSR Bullish Hammer Scanner

• Set Alert as it happens
• Combine Bullish Hammer pattern with other Technicals/patterns with Fine Tune Filter Option
• Filter on Stock basket or your watchlist
• Back test to gain confidence on the Pattern
• Filter on small ticks like 5 mins to Monthly tick
• Auto refresh

Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option

Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.

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