Free Indicator

Hammer Tracking Tool with Volume Dashboard

Hammer Retest with Volume – Indicator Guide

What this indicator does

Step 1

Detects hammer candles

Step 2

Draws a key level line

Step 3

Monitors for a retest

Step 4

Rates retest Strong or Weak

What counts as a hammer candle

Long lower wick ≥ 2× body size Shows strong price rejection from the low. The longer, the better the signal quality.

Small upper wick ≤ body size Confirms buyers were in control. A large upper wick weakens the pattern.

Level line drawn automatically The indicator places a horizontal line at the Mid (open+close)/2, Close, or Low — your choice in settings.

HTF confirmation (optional) When enabled, the higher timeframe must also show a hammer for the signal to activate — filters weak setups.

Reading signals on your chart

Teal candle = hammer detected

Green label = strong retest

Red label = weak retest

Yellow dashed line = key level

Red horizontal line = prev day high

Green horizontal line = prev day low

Trade workflow — step by step

Spot a teal candle

The bar turns teal and a “HAMMER” label appears above it. Price rejected strongly from the low. This is your setup candle — do not enter yet.

Note the yellow level line

A horizontal dashed yellow line is drawn at your chosen level (Mid / Close / Low). This is the zone price must return to. Mid is recommended — it’s the most used for retests.

Wait for price to return

Watch for a subsequent candle whose low touches or pierces the yellow level, while still closing above the hammer’s low. A close below the hammer low = setup cancelled, wait for the next hammer.

Read the STRONG / WEAK label

A STRONG label means all 3 conditions are met: first touch, near PDL, and lower retest volume. Otherwise the label shows WEAK — still tradeable, but with smaller size.

Check Vol Δ in the retest label

The label displays “Vol Δ: XXXX” — this is hammer volume minus retest volume. A large positive number means sellers couldn’t push price back with conviction. Negative = sellers returning with force, be cautious.

Check the dashboard (top-right corner)

Shows exact time and volume of the hammer candle, the retest candle, and the difference. Green background = healthy vol difference. Red background = retest volume was higher than the hammer — use caution.

Invalidation — know when to step aside

If any candle closes below the hammer’s low, the setup is automatically cancelled and the indicator resets. Never trade an invalidated hammer setup. Wait patiently for the next one.

Strong vs Weak — the 3-condition rule

✦ Strong retest — all 3 required

✅ First touch of the level (touch count = 1)

✅ Level is near prior day’s low (PDL)

✅ Retest volume < hammer volume (Vol Δ > 0)

✦ Weak retest — any condition fails

⚠️ Level was already touched before

⚠️ Not near the prior day’s low

⚠️ Retest volume ≥ hammer volume

Dashboard explained

The dashboard appears in the top-right of your chart and updates on every bar. It gives you an at-a-glance comparison of the hammer and retest volumes without having to hover over individual candles.

Green background means the volume difference is positive — the retest was quieter than the hammer, indicating waning selling pressure. This is bullish context.

Red background means the retest had equal or greater volume — sellers are still active. Be conservative with position size.

HAMMER: 09:15 (245,830)

RETEST: 09:47 (98,210)

DIFF: +147,620

Settings reference

Setting	Default	What it does
Hammer level type	Mid	Where the horizontal level is drawn. Mid = (open + close) / 2. Close = closing price. Low = candle low. Mid is the most commonly used for retest entries.
Enable HTF confirmation	On	Requires the selected higher timeframe to also show a hammer pattern. Significantly improves signal quality — recommended to leave enabled.
Higher timeframe	15	The HTF to confirm against. On a 1m or 3m chart, 15m works well. On a 5m chart, try 30m or 1H for cleaner confirmation.
Max labels	3	Number of past hammer/retest labels kept visible on the chart. Raise to study history; lower to keep the chart clean during live trading.
Label distance	100	How many bars to the right the label is offset from the candle. Increase if labels are overlapping with recent price action.
Show dashboard	On	Toggles the volume summary box in the top-right corner. Disable when screensharing or if you find it distracts from your chart layout.

Quick tips for best results

🔔

Set an alert

Use the built-in “Hammer Retest” alertcondition from TradingView’s Alerts panel. You’ll be notified the moment a retest fires — no need to watch the chart all day.

⏱️

Match your timeframes

HTF should be 3–5× your chart TF. 1m chart → use 5m or 15m HTF. 5m chart → use 15m or 30m. Mismatched TFs give redundant or conflicting confirmation.

📊

PDL confluence

A STRONG signal near the prior day’s low is a high-probability setup. The hammer rejected from a known support, and the retest hit it with less volume — sellers are exhausted.

How to Use ?

The indicator has a two-phase logic — first it finds a hammer candle (long lower wick ≥ 2× body, tiny upper wick), then it watches for price to return and “retest” that level. The retest label tells you whether the setup is worth trading.

The trade in plain :

Hammer forms → teal candle + yellow level line appear
Price pulls back to that level on a later candle → retest label fires
If it’s STRONG (first touch + near PDL + lower retest volume) → higher-probability long setup
Stop loss goes below the hammer’s low; if price closes below it, the setup is cancelled automatically

The Vol Δ number in the label is the most important filter — a large positive value means sellers couldn’t push price back with volume, which confirms the hammer’s rejection was genuine.

Quick tips

Set an alert

Add the built-in “Hammer Retest” alert from the Alerts panel so you don’t have to watch the chart — TradingView will notify you the moment a retest is confirmed.

Timeframe matching

The HTF should be at least 3–5× your chart timeframe. On a 1m chart use 5m or 15m HTF. On a 5m chart, use 15m or 30m. Mismatched timeframes produce redundant confirmation.

PDL confluence

A STRONG signal near the previous day’s low is a high-confluence setup — the hammer rejected from a known support zone and came back to test it with less selling pressure.

How to Get this Indicator

Copy and Past this link in website and add to favor in trandingview

https://in.tradingview.com/script/RoZKcjgD-Hammer-Retest-Candle-with-Volume-Dashboard

Disclaimer – Scalping Indicator ( read before use )

This scalping indicator is developed strictly for educational and study purposes only. It is not a money-making machine, trading system, or guaranteed profit tool.

Markets are uncertain and no indicator can predict price movements with 100% accuracy. This tool should always be used along with your existing trading setup, proper analysis, risk management, and an overall market view. Do not rely solely on this indicator to make trading decisions.

This indicator does not offer any assurance of profit in the stock market. Past performance or signals generated by this tool do not guarantee future results.

All trading decisions are entirely your responsibility. You are solely responsible for any profits, losses, or risks you take while using this indicator. Always trade with proper knowledge, discipline, and risk control. Use this tool only as a supporting study aid, not as a standalone decision-making system.