Hanging Man Candlestick Pattern: A Complete Trading Guide
Below is an AFL script to detect the Hanging Man in Amibroker:
// Hanging Man AFL Code for Amibroker
Uptrend = C>EMA(C,25); //Replace with your definition of an uptrend;
BodySize = Abs(Open – Close);
LowerWick = Min(Open, Close) – Low;
UpperWick = High – Max(Open, Close);
HangingMan =
Uptrend AND
(LowerWick > 2 * BodySize) AND
(UpperWick
(BodySize / (High – Low)
This script can be used in Amibroker to find Hanging Man patterns to incorporate them into your trading systems and marks them with a red star.
