by 
This indicator plots buy and sell labels on the price chart. A buy appears when a short stochastic crosses up from below 20 while a slow MACD histogram is positive and a faster MACD histogram is negative. A sell uses the opposite stochastic and MACD alignment.
Indicator · Pine Script v6 · On the chart
Hammer & Inverted Hammer Detector (with ATR and Table)
This indicator identifies Hammer and Inverted Hammer candlestick patterns overlaid directly on the price chart.
GitHub stars1on the repository
Pine versionv6current
Lines of code79
Settings6inputs
LicenceNone stated
Last update7 months ago27 Mar 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Hammer & Inverted Hammer Detector (with ATR and Table) evaluates body proportions, upper wick lengths, and lower wick ratios against user-defined thresholds. To filter out low-volatility noise, candles are evaluated against an ATR multiplier requirement. When a valid pattern is identified, shape markers plot above or below the bar, normalized ATR lines plot on the main chart, and an on-screen table tracks the cumulative count of detected patterns.
- Candlestick body and wick proportion threshold detection
- ATR volatility filtering for pattern relevance
- Price-adjusted ATR and ATR SMA indicator overlay plots
- On-screen summary table counting pattern occurrences
Details
Published by
gabriel-klettur on GitHub
Type
Indicator, Pine Script v6
Draws
On the price chart
Category
Candlestick patterns, Volatility & bands, Screeners & dashboards
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Body proportion (0.1 to 1) | float | 0.2 | body_ratio |
| Lower wick proportion (0.1 to 1) | float | 0.5 | lower_wick_ratio |
| Upper wick proportion (0.1 to 1) | float | 0.5 | upper_wick_ratio |
| Maximum opposite wick proportion (0.1 to 1) | float | 0.2 | small_wick_ratio |
| ATR period | int | 14 | atr_period |
| ATR multiplier for relevance | float | 1.5 | atr_multiplier |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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