What is the success rate of hammer candles?

The success rate of hammer candles is roughly 60% as a bullish reversal, according to Thomas Bulkowski's research, with confirmation pushing it higher. The hammer signals a reversal 60% of the time, which is not bad but also not far from random.

A standalone hammer has a success rate of about 52–55%, but with confirmation, this rate can increase to over 60%, and when confirmed with above-average volume and a bullish follow-through candle, the success rate can climb to 65-70%, especially on daily charts at known support and with oversold RSI readings