Hammer candle into a prior floor
Hammer-geometry candles that traded down into a 20-session floor that already existed a month earlier, and closed back above it.
By Rohit Singh (Mr. Chartist) · Updated 2026-08-25
A hammer on its own means very little — the same geometry after an advance is a hanging man, which is bearish. What makes a hammer worth looking at is location: it has to happen where sellers have previously failed.
This scan encodes that in bar arithmetic. It measures the candle's shape, checks the candle traded into the recent floor, checks it closed back above that floor, and — the part most hammer scans omit — checks the floor is not brand new but one that already existed a month or more ago.
( {cash} ( latest low <= 1 day ago min( 20 , latest low ) * 1.02 and latest close > 1 day ago min( 20 , latest low ) and 1 day ago min( 20 , latest low ) <= 20 days ago min( 40 , latest low ) * 1.03 and 1 day ago min( 20 , latest low ) >= 20 days ago min( 40 , latest low ) * 0.97 and ( least( latest open , latest close ) - latest low ) > 2 * abs( latest close - latest open ) and ( latest high - greatest( latest open , latest close ) ) < ( latest high - latest low ) * 0.15 and abs( latest open - latest close ) > ( latest high - latest low ) * 0.05 and latest count( 5, 1 where latest close < 1 day ago close ) >= 3 and latest volume > 1 day ago sma( latest volume , 20 ) and latest close > 20 ) )Chartink can fail silently. Tested on 2026-08-25: a clause containing a nonsense token returned the same number of rows as the correct one, with no error, and a clause with no comparison in it returned every stock in the segment. A scan that returns results has not necessarily parsed as you intended — so sanity-check a few of the names it gives you against the conditions above before trusting the list.
Chartink's own documentation notes that scans cannot always be copy-pasted directly, and its in-app copy function moves condition groups rather than raw text. Treat this clause as the specification to reproduce in the condition builder; if pasting works in your account, so much the better.
What this scan actually tests
- Candle geometry: lower shadow longer than twice the real body, upper shadow under 15% of the day's range, and a body larger than 5% of the range as an anti-doji guard.
- The candle traded down into the floor — today's low is at or within 2% of the lowest low of the 20 candles ending yesterday.
- It closed back ABOVE that floor: a rejection of the level, not a breakdown through it.
- The floor is not fresh — it sits within ±3% of the lowest low of candles 21–60 back, so price is re-testing an established level rather than slicing into new ground.
What it cannot see
A scan is bar arithmetic. It cannot read a chart, and every recipe here is honest about where the machine stops and your eyes start.
- That the level is a genuine support ZONE. The scan compares two window minima; it cannot count touches or judge whether the reactions off the level meant anything.
- That the candle is a hammer as a human reads it. Identical geometry after an advance is a hanging man — the '3 of the last 5 closes were down' clause is a crude filter against that, not a judgement of context.
- Follow-through. It fires on the hammer day; it does not test the classic confirmation of a next-candle close above the hammer's high.
- Higher-timeframe structure — nothing checks whether the stock is in a downtrend where every floor eventually fails.
Why this setup is worth scanning for
A long lower wick is a session where sellers pushed price down and buyers took it all back before the close. At a level that has already held once, that is the second piece of evidence rather than the first.
Rare on strong days, clustered after broad market declines. Expect to discard most hits on the chart — the geometry test is exact, but 'is this actually support' is entirely eye-work.
Written By
Rohit Singh
Mr. Chartist
With 14+ years of experience in Indian financial markets, Rohit Singh (Mr. Chartist) is a SEBI Registered Research Analyst, Amazon #1 bestselling author, and the founder of Investology — a premium trading ecosystem trusted by a 1.5 Lakh+ strong community across India.
Educational content. A scan is a filter, not a recommendation — the names it returns are candidates for your own analysis, not a buy list, and nothing here is investment advice. Chartink is a third-party service with no affiliation to this site. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance or assure returns. Markets carry risk.