Scanning

Scanning in HAMMER is tied to a Portfolio window. It allows you to add a scanning algorithm to a portfolio.

The scan would execute, for each row in the portfolio, a mathematical formula involving the symbol’s parameters and technical indicators calculated for that symbol. This would happen continuously, as new data comes in.

The scan, for each row, would produce a Scan Result that can be displayed in the portfolio and can be used to sort the portfolio or show/hide some rows.

You can use all the indicators that Hammer supports into the scans and make scans of your own. For example, you can scan through the portfolio for stocks that fit the “Death cross” pattern (50-day moving average crosses down 200-day moving average) or get alerted when the stock price touches the Bollinger bands (either upper or bottom line) etc. Hammer can help you scan in real time through stocks by parameters that match your own personal strategy.

Paintbars

Paintbars allow you to expand your strategies and identify trading

opportunities. Paintbars are formula-based indicators placed on a chart

and are fully integrated with trigger alerts for better control.

Paintbars are a feature in HAMMER that allows custom coloring of

candles or drawing of bands, shapes or curves on charts based on user-

defined formulas/algorithms that involve indicators and candle values.

They can also be used as Scans in portfolios.

Candle Pattern Detection

HAMMER can do Candle Pattern Detection, on charts – using a custom

Candle Patterns option, in paintbars or in scans.

Candle pattern detection is highly susceptible to certain definitions such

as what is a “long” or a “short” candle pattern, what defines a “doji”, and

how to determine whether a candle wick is short or long.

HAMMER provides an extensive list of patterns with various tweaking

parameters.

Candle Pattern Selection window allow you to specify which patterns to

detect and how to display them on the chart.