What are The Strat Hammer platform capabilities?
Hammer has recognized the enormous value that The Strat possesses and has incorporated several tools based on its logic and rules in order to be of service to anyone that is a fan of this method – beginners and veterans, analysts and traders.
The Strat consists of the following fundamental ideas about price action:
1. Time frame continuity
2. Broadening formations
3. Candlestick scenarios and actionable signals
Hammer differentiates between historical and real-time market data and that is why we have the Historical and Intraday options for all of the scanners.
We have the following built-in The Strat scanners:
1.FTC Historical is a scanner that searches for Full time frame continuity on all the historical time frames supported by Hammer – daily, weekly, monthly, quarterly, yearly.
Here is an example of how this scanner would work. If you have selected Close > Open and Weekly and Monthly, the scanner will find for you all the symbols out of your watch list, that have a closing price (or current price) that is higher in value than the opening price for both the weekly and the monthly time frames. In other words, you get the symbols that have made a green Weekly and a green Monthly candlestick. This updates in real time, so you might lose or gain new scan results by the changes in price for your watch list symbols.
You must have the Auto-Backfill box checked and, if you prefer, the Filter button switched on. By having the Filter button on, you are going to see only the results from your scan. Otherwise, you are seeing all the symbols in the Watch list and you have to arrange them by the Scan Result column to see the results shown at the top of the list.
2.Next is the FTC Intraday scanner. The logic is the same as the FTC Historical and you should be able to navigate it with ease.
You have to choose the corresponding option on the right panel, in this case Intraday. FREQ should be 1 min. regardless of the time frame you are scanning. Auto-Backfill should be selected and the Filter button works in the same way. In the given visual example, we are scanning for symbols that are both green on the 60 minute and on the 15 minute time frame. The column with the results would look the same as the one in the FTC Historical scanner.
3. The Strat Patterns scanner - We can’t talk about The Strat without mentioning the Scenarios (One, Two, Three) and a few of the notable combinations they have. And of course, we have a scanner that tracks them - The Strat Patterns scanner.
When you are using TheStrat Patterns scanner you are able to scan for the following patterns – Inside bar (Scenario One), Scenario Two and Up, Scenario Two and Down, Scenario Three (Outside bar), Scenario combinations Three-Two-Up and Three-Two-Down as well as the “non-canonical” (meaning – we haven’t assigned to these patterns preferences for the size of the mother bar or the breaking candle) Revstrat Hammer and Revstrat Shooter. For the last two – we’ve done that deliberately so the patterns can be used for as many purposes as they can. If you, as a user, want to narrow down your definition for those, or any other pattern, you can do that by copying and editing the scanner. This way we hope we have made something useful for the wider audience while still leaving open the possibility of making it as complicated as one wants.
4. The Strat Patterns multi-column- If you like The Strat Patterns scanner, but you still need more in terms of functionality, we have a version of it that makes it even more useful. That is the The Strat Patterns multi-column scan.
It gives you the ability to add all of the patterns as columns in your Watch list window. In the following example we are scanning for all the patterns from our capabilities and we are doing that for the Weekly time frame.
As you are becoming familiar with Hammer’s scanning functionality, you might have correctly assumed that you can do that for the Intraday time frames as well.
Choose your specific time frame, add or exclude patterns, arrange the list the way you like it and as a result achieve your desired screening process.
5. TheStrat Patterns multi-column w/FTC- TheStrat Patterns multi-column w/FTC scanners for both the Historical and Intraday time frames.
First, we choose our desired Time frame continuity – Close > Open (Green) or Close < Open (Red), then we choose the time frame for that continuity. Once we have these picked, we select the candle patterns that we want to scan for. From the Intraday/Historical Panel we choose the Frequency for the Pattern time frames. Using the example from the last picture, this is what it means – We are scanning for Inside bars, 2-Up, 2-Down and Outside bars on the 30 minute (Intraday) time frame. These patterns will only be shown as scan results if the stock symbol that they are derived from also has the condition Close > Open true for the 60 minute time frame. In other words, we have as scan results all of the patterns that appear while the 60 minute candle is green as well.
6.TheStrat Patterns multi-column w/Hist- The exact same logic is applied to the TheStrat Patterns multi-column w/Hist.