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.
The Shooting Star Indicator automatically identifies Shooting Star candlestick patterns directly on ProRealTime charts.
It makes these Japanese candlestick patterns easier to identify when analyzing price movements, without having to examine each candle individually. Shooting Stars are highlighted by a red arrow above the candle.
Many parameters allow you to adapt the display to your own criteria. All settings can be adjusted directly from the indicator's “Configuration” menu in ProRealTime, without modifying the code.
To scan the market for stocks showing a Shooting Star, use our Shooting Star Screeners.
Adjustable validation criteria:
Available filters:
Video presentation:
Details of available settings :
< Back to home < Back to the indicators
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.
Download guide
