Understanding the 5 Minute Hanging Man Alert

This alert reports when there is a traditional hanging man pattern on a standard 5-minute candlestick chart. A hanging man is similar to a hammer, except that a hanging man occurs in an uptrend. We associate this alert with the color red because most traders see a hanging man as a reversal pattern.

Default Settings

By default, the 5 minute hanging man alert appears when there is a traditional hanging man pattern on a standard 5 minute candlestick chart.

Custom Settings

For '5 Minute Hanging Man' alerts, you have the option to use an alert specific filter. This filter is located immediately to the right of the corresponding alert and is always optional. You can decide to leave it blank if you want to receive more alerts, or you can fill it in to restrict the number of alerts you receive. This filter allows you to specify the quality of the alert. When you set a higher number for this filter, you are telling the alerts server to display only alerts that meet a higher quality standard, resulting in fewer alerts being shown.

When setting an alert for '5 Minute Hanging Man', the user can filter these alerts by a grade of how on how closely the stock chart matches the ideal shape of the stock pattern. 0 would mean there was no match. 100 would mean it's an ideal match.

Description Column

The description of the alert will give a more comprehensive breakdown of the alert.

Quality Column

The quality value on a scan using the "5 Minute Hanging Man" represents the grade based on how closely the stock chart matches the ideal shape of the stock pattern. 0% would mean that there was no match at all. Of course, if a stock pattern is this poor a match, then we are unlikely to report an alert. 100% would be an ideal match. Again, this would be an ideal and extreme case. Few if any alerts come close to 100%.