Custom Hammer and Inverted Hammer

Custom Hammer and Inverted Hammer MT5 indicator for multiple cycles. The indicator helps to identify potential trading opportunities in different time frames.

This indicator has an input field multiplication factor, where user can input any value to detect custom hammer or inverted hammer

It will plot specified color from input

Example : If multiplication factor is 1.25 then it will look for any hammer where shadow of a hammer is minimum 1.25x of body and vice versa for inverted hammer.

How to install Custom Hammer and Inverted Hammer Indicator in MetaTrader 5 Forex Trading Platform?

• Extract the downloaded Custom Hammer and Inverted Hammer Indicator.zip file.
• In the MetaTrader 5 trading platform, go to the “File” menu and click “Open Data Folder”.
• Navigate to the MQL5 folder and open the Indicators folder.
• Paste the Custom Hammer and Inverted Hammer Indicator.ex5 file(s) into the Indicators folder.
• Restart the MetaTrader 5 platform.