Hammer Candlestick Reversal Long 1-Hour Strategy

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Screenshot of Hammer Candlestick Reversal Long 1-Hour Strategy strategy

Developed for long positions on OXY, this strategy employs a 1-hour timeframe and is backtested over 7000 candles. It identifies potential bullish reversals using hammer candlestick patterns combined with trailing stops. Created for a stock in the Oil & Gas industry, part of the Energy sector, it could be effective for other related stocks.

Entry Conditions

All of the following: # "Quebec"
  60min Chart(close) (3 candles ago) < 60min Chart(open) (3 candles ago)
  60min Chart(close) (2 candles ago) < 60min Chart(open) (2 candles ago)
  60min Hammer Evolves (1 candles ago)
  60min Chart(close) > 60min Chart(high) (1 candles ago)

Exit Conditions

# Candles Passed	Exit after 10 candles, for any PnL.
Trailing Stop	Trailing stop at 2%.

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Hammer Candlestick Reversal Long 1-Hour Strategy

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Entry Conditions

Exit Conditions

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