Retracement Screens - Using the Bullish Hammer Pattern
The Bullish Hammer Candlestick Pattern | Definition
The bullish hammer pattern is a candlestick pattern in technical analysis that proves especially useful in active swing trading strategies in which the pattern is used as a warning signal that an existing bearish trend could reverse.
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The Bullish Hammer Candlestick Pattern in Technichal Analysis
Candlesticks come in all shapes and sizes, they are used as a component within technical analysis.. One of them is the bullish hammer. This specific candlestick pattern mainly proves its usefulness in active swing trading strategies in which the pattern is used as a warning signal that an existing bearish trend might be reversing. By combining this pattern with other candlesticks before and after the bullish hammer itself, even real reversal signals arise, consisting of several consecutive candlesticks, which benefits the reliability of the signal.
ChartMill Trend: Long Term Trend Neutral or Positive
Main trend has to be neutral at least
Average Volume: 50 SMA > 300K
Minimal liquidity
Signal: New 5 day Low Today
To identify the price pullback
Price: Above 5
To avoid penny stocks
Candlestick: Bullish Hammer
Act as a reversal pattern
To recognize the candlestick pattern
Regional Run
Run this screen in your favorite region. You can always further fine tune the screen by changing the general settings after it opened in the screener.