This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
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This is a simple hammer screen. It searches for a body equals to 1/3 of the daily (high low) range, It also searches for an upper shadow which is equal or smaller than 1/11 of the daily range (high low). The screener filters out stocks with average volume smaller then 500k over the last 16 trading days, and also filters out stocks with daily average trading price smaller then $0.1 over the last 16 days, The screener looks also for 1 day down trend by checking that the Hammer candle close price is lower than the close or the high of the previous daily bar.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
