8 EMA Scanner

whittradez

New member
Hello,
Can someone help me to create a scanner for TOS where the tickers touch/sits on the 8ema with a hammer on the daily timeframe? I'm not looking for an ema crossover. If both conditions can't be included a scanner for where the tickers touch/sits on the 8ema is preferred. Thank you in advance!
 
Code:
# Define the 8 EMA
def EMA8 = ExpAverage(close, 8);

# Define a hammer candlestick pattern
def Hammer = if close > open then open - low else close - low;
def Body = AbsValue(close - open);
def isHammer = Hammer > 2 * Body and close >= low + 0.1 * (high - low);

# Check if a hammer has formed and is at or near the 8 EMA
plot scan = isHammer and AbsValue(close - EMA8) <= close * 0.01; # within 1% of the EMA


This script will return true when a hammer candlestick pattern has formed and the close price is within 1% of the 8 EMA. You can adjust the percentage as needed to fit your trading strategy.
 
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