Hammer & Shooting Star Candle Detector — Indicator by MoriFX

candlestick candlestickpattern hammer shootingstar

Hi guys
This script will help you to find Hammer candles and also Shooting star candles.
These candle patterns indicate price reversal probability and should evaluate in bigger price context before using as a signal.
I hope you find it helpful and enjoy it.
Please leave your comments for improving this script.

Release Notes:

An alert has been added to the script + A bit face change

Release Notes:

Updated indicator has a new option in setting to filter Hammer and Star candle with color to reduce fake candles.
So you have two option:
1- All color Hammer and Star candles
2- Only "Green Hammer" and "Red Star" candles
* you can use from separate Alerts as well.

I hope you find it useful, Cheers

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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