The Shooting Star is a Japanese candlestick pattern characterized by a small body located in the lower part of the candle, a long upper shadow, and a very short or nonexistent lower shadow.
When it appears after a price increase, the Shooting Star reflects a failed attempt to continue the upward move: despite buying pressure during the period, prices eventually closed near their opening level or in the lower part of the candle's range.
This pattern may draw attention to a potential bearish reversal.
This product includes two separate ProRealTime Screeners designed to automatically identify Shooting Star candlestick patterns across financial markets.
General filtering on the daily timeframe, based on price and trading volume, allows you to select the desired liquidity level.
Numerous parameters allow you to adapt the search to your own criteria. All settings can be adjusted directly from ProRealTime's “Variables” menu, without modifying the code.
Adjustable validation criteria:
Available filters:
General filtering:
Video presentation:
Details of available settings :
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Disclaimer
Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations. The automated trading systems offered have been developed and optimised using historical data; however, past performance is no guarantee of future results. Investing in the financial markets involves risks up to and including the total loss of capital. The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.
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