Hammer Long Strategy with Filtered and Forced Alerts

Hammer strategy Long is a pricing model for candle chart that occurs when a security trades significantly below its opening price but rises over a period of time to close near its opening price. This pattern forms candle shaped like a hammer, in which the lower shadow is at least twice the size of the real body. Body candles represents the difference between the opening and closing prices, and the shadow shows the maximum and minimum prices for the period.

Key findings:

• The hammers have a small actual body and a long lower shadow.
• Hammer blows occur after a price decline.
• Candle “hammer” shows that sellers entered the market during this period, but by the close the sales were absorbed and buyers returned the price almost to the opening.
• The close can be higher or lower than the open, although the close must be close to the open to keep the actual body small.
• The bottom shadow should be at least twice the height of the actual body.
• Candles“Hammers” indicate a potential upward price reversal.
  
  The strategy increases the accuracy of the standard pattern “Hammer”, eliminating market noise and manipulation from indicator triggers. Filter Value Adjustment Combination volumetric oscillator and index directional movement(DMI) only detects strong signals. The strategy is designed to predict entries and exits from long positions. The strategy supports spot,futures, options and margin trading exchanges. It definitely works with currencies BTC, USD, USDT, ETH and BNB. Best used with 30 and 60 minute charts. The strategy can and should be customized for each specific asset. You can change filters and risk management settings to receive the most up-to-date, accurate alerts
  
  Advantages of this script:
  1. Weak signals and market noise are filtered out. This allows you to receive only strong and confirmed alerts
  2. The strategy can be easily configured in the user interface for each specific asset
  3. High performance. On the chart you can see examples of entries and exits from the strategy, you can also check the backtesting of the strategy for the RENUSDT position:
• Net profit: 26.95%
• Profit percentage: 90%
• Profit factor: 7.418
• Trading duration: 16 hours

How to use?
1. Apply the indicator to the trading pair you are interested in on the 30m or 60m timeframe
2. Set up the strategy: change filter values ​​and risk management settings until the strategy tester shows good results in terms of mathematical expectation
3. Set up a TradingView alert to trigger when the strategy conditions are met Hammer
4. The strategy will send alerts when to enter and when to exit positions

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