Hammer Shooting Star

Hammer Shooting Star v1.1 – Advanced Candlestick Pattern Scanner

Author: LIANG1990

Are you searching for a reliable tool to identify market reversals with precision?
Hammer Shooting Star v1.1 is a professional MT4 indicator designed to scan and detect high-quality Hammer and Shooting Star candlestick formations.

Unlike basic pattern indicators, this tool applies multiple built-in filters (shape, size, trend alignment, and contextual conditions) to reduce false signals and highlight only the clearest patterns.

🔑 Key Features

  • Detects Hammer and Shooting Star reversal candlesticks.

  • Strict size & shape recognition – no “loose” or inaccurate patterns.

  • Enhanced with additional technical filters to improve accuracy (details proprietary).

  • Multi-timeframe scanning: optimized for M15, M30, H1, H4.

  • Real-time alerts via:

    • Popup notifications

    • Sound alerts

    • Email notifications

    • Push alerts to mobile devices

  • Works across Forex, Indices, Commodities, Metals, and Crypto.

📊 Recommended Usage

  • Best suited for M15, M30, H1, H4 timeframes.

  • Each chart instance scans one timeframe only (ensures accuracy).

  • For monitoring multiple timeframes (e.g., M15 + M30 + H1 + H4), open separate MT4 charts for the same symbol and attach the indicator individually. This way, you can scan several timeframes in parallel according to your trading preferences.

    💡 Tip: For better workflow, some traders prefer installing a second MT4 terminal dedicated to scanning only.

    * **Scanning MT4:** Open multiple charts (M15, M30, H1, H4) with the indicator running.

    * **Trading MT4:** Keep your primary MT4 clean for placing trades and managing positions.

  • Not recommended for M1/M5 (too much noise).

  • D1, Monthly, Yearly may not display correctly.

  • For best performance, use on **24-hour markets** (e.g., Forex, Crypto) or instruments with long trading sessions (e.g., Gold, Major Indices).  

  • Avoid days following **market holidays**, since the calculation relies on the previous D1 candle. Incomplete daily candles from holiday sessions may reduce accuracy. 

💡 Personal Trading Tips (Optional)

  • For improved reliability, consider combining this indicator with:

    • Classic Pivot Points (to locate potential reversal zones).

    • Volume indicators (to confirm market participation).

    • Support/Resistance tools of your choice (to filter out weak signals).

    • For higher accuracy, focus on instruments with continuous 24-hour trading (Forex, Crypto) or long-session markets (Gold, Major Indices).  

    • If the previous day was a market holiday, signals on the next day may be less reliable.

    • Always confirm signals with your own analysis (volume, pivot points, support/resistance).

  • This way, Hammer/Shooting Star signals can become part of a more complete strategy.


📘 Example Entry Rules (Optional Use)
These are suggested guidelines on how traders may choose to use the signals.  
They are provided for educational purposes only — always confirm with your own strategy.  

**Hammer Pattern:**  
- Entry: Place a buy order when price breaks above the Hammer’s high.  
- Stop Loss: Set below the Hammer’s low.  
- Take Profit 1: Close 80% of the position at Entry + (Hammer candle size).  
- Remainder: Trail the stop loss on the remaining 20% to capture potential longer-term profits.         

**Shooting Star Pattern:**  
- Entry: Place a sell order when price breaks below the Shooting Star’s low.  
- Stop Loss: Set above the Shooting Star’s high.  
- Take Profit 1: Close 80% of the position at Entry – (Shooting Star candle size).  
- Remainder: Trail the stop loss on the remaining 20% for possible extended downside moves.

**Additional Rule:**  
- If price does not reach TP1 **within 3 bars** after the pattern forms, and fails to break the trigger level (Hammer high / Shooting Star low), cancel the order.  
- This avoids taking signals that lose reliability after too much delay.  

🚀 Why Choose This Indicator?

  • Professional-grade pattern detection, not just simple candle matching.

  • Built-in contextual filters help reduce false alerts.

  • Lightweight and fast execution in MT4.

  • Comprehensive alert system keeps you updated anytime.

⚠️ Disclaimer

This indicator is a technical analysis tool and does not guarantee profitability.
Always test on demo before using on live accounts. Use at your own risk.

❓ FAQ

Q: Does this indicator use volume analysis?
A: No. Volume confirmation is left to the trader.

Q: How many devices can I activate it on?
A: Each purchase includes 5 activations (standard in MQL5 Market).

Q: Can I use it with other strategies?
A: Yes! It is recommended to combine with pivot points, volume, or support/resistance indicators.





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Satya Prakash Mishra
Indicadores
Core Principles Swing Angle Measurement   Swing angles are calculated by measuring the degree of price movement between swing highs and lows over time. Steeper angles (typically 45+ degrees) indicate stronger momentum and potentially more profitable trading opportunities. Traders use various timeframes to identify these patterns, from intraday charts to weekly swings. Momentum Confirmation   High degree swing angles often coincide with strong momentum indicators like RSI breakouts, volume spikes
Splash
Pavel Verveyko
Indicadores
The indicator identifies the most suitable moment for entering the market in terms of market volatility, when the market has the strength to move (the signal is indicated by an arrow under the candle). For each of the signals, the presence of trends on the current and higher timeframes is determined, so that the signal is in the direction of the majority of positions opened on the market (denoted near the signal by abbreviations of timeframes with a trend present). The signal appears after the c
Gartley Projection D
Oleksandr Medviediev
3.71 (7)
Indicadores
El indicador identifica los patrones armónicos (XABCD) según los desarrollos de H.M.Gartley ("Beneficios en el mercado de valores", 1935г). Proyecta el punto D como un punto en la proyección en perspectiva (especifique ProjectionD_Mode = true en la configuración). No vuelve a dibujar. Cuando se cierra una barra del período de trabajo, si el punto del patrón identificado no se ha movido durante las barras Patterns_Fractal_Bars, aparece una flecha en el gráfico (en la dirección del movimiento e
Binary Booster
Yaroslav Varankin
5 (1)
Indicadores
Binary Options Trading Indicator: A Reliable Tool for Your Trades This indicator is specifically designed for binary options trading and has proven its high quality, reliability, and adequate accuracy, depending on the dynamics of the chart. Key Points: Signal Interpretation: When a blue cross signal appears, it indicates a potential entry into a trade, though it is considered a weak signal on its own. However, if the blue cross is accompanied by an arrow, it is considered a more reliable buy s
GoldRush Trend Arrow Signal
Kirk Lee Holloway
5 (1)
Indicadores
Señal de flecha de tendencia GoldRush El indicador Señal de flecha de tendencia GoldRush proporciona un análisis preciso y en tiempo real de las tendencias, diseñado específicamente para los operadores de alta velocidad y corto plazo en XAU/USD. Diseñada específicamente para el marco temporal de 1 minuto, esta herramienta muestra flechas direccionales para indicar puntos de entrada claros, lo que permite a los scalpers navegar con confianza por las condiciones volátiles del mercado. El indic
EasyWay Trade Panel Buy Sell Arrows RegrChannel ZZ
Borislav Shterev
Indicadores
Indicador EasyWayTradePanel para MetaTrader4 , son asistentes comerciales para el comercio manual en cualquier moneda en  F OREX,  CRYPTOCURRENCY como   Bitcoin,  Ethereum,  Lightcoin,   Ripple y más. También es fácil de usar para COMODIDAD como   Oro,  Plata, Petróleo,  Gas ... y  CFDs. Cuando se instala en el gráfico en el marco de tiempo elegido y la herramienta comercial, el indicador dibuja automáticamente los siguientes indicadores personalizados utilizados en la estrategia comercial Easy
Pairs Trading Dashboard
Ledi Haryadi
Indicadores
Pairs Trading Dashboard - Spearman Correlation and Stationary Z-Score  is a custom indicator designed for the MetaTrader 4 (MT4) platform, developed to assist traders in analyzing and monitoring currency pairs for pairs trading strategies. It utilizes Spearman’s rank correlation coefficient and Z-Score calculations to identify trading signals across multiple timeframes and currency pairs. The indicator integrates various technical filters and stationarity tests to refine signal generation and di
Binary Smart Eye
Ramzi Abuwarda
Indicadores
El indicador MT4 "Binary Smart Eye" está diseñado para proporcionar señales de trading tanto para opciones binarias como para mercados de divisas (forex), operando en una amplia gama de marcos de tiempo, desde M1 hasta W1. Emplea una estrategia propietaria que combina niveles de tendencia, una media móvil inteligente y períodos de trading optimizados para identificar posibles puntos de entrada. Aquí tienes un desglose de sus características clave: Análisis de múltiples marcos de tiempo:   La ver
Beast Super Signal
Dustin Vlok
4.73 (89)
Indicadores
¿Está buscando un potente indicador de compraventa de divisas que pueda ayudarlo a identificar oportunidades comerciales rentables con facilidad? No busque más allá de Beast Super Signal. Este indicador basado en tendencias fácil de usar monitorea continuamente las condiciones del mercado, buscando nuevas tendencias en desarrollo o saltando sobre las existentes. Beast Super Signal da una señal de compra o venta cuando todas las estrategias internas se alinean y están en 100% de confluencia entr
Forecast System
Peter Maggen
Indicadores
Esta es una estrategia simple basada en los niveles BREAKOUT y FIBONACCI. Después de una fuga, En cualquier caso, el mercado continúa moviéndose directamente a los niveles 161, 261 y 423. o retrocede hasta el nivel del 50% (también llamado corrección) y luego muy probablemente continúa el movimiento en la dirección inicial hasta los niveles 161, 261 y 423. La clave del sistema es la detección de la barra de ruptura indicada con un objeto rectangular verde (TENDENCIA ARRIBA) o rojo (TENDENCI
Trend Precision Oscillator for MT4
Nicola Capatti
Indicadores
Trend Precision Oscillator – Un enfoque refinado para el análisis de tendencia El Trend Precision Oscillator es un indicador diseñado para ofrecer una lectura de alta resolución y profundidad sobre el comportamiento del precio en los mercados financieros. Basado en un algoritmo propietario, analiza la estructura del precio considerando volatilidad, dinámica direccional y microoscilaciones, y entrega valores en una escala de –10 000 a +10 000 . El valor absoluto refleja la intensidad del movimien
ON Trade Optuma Astro
Abdullah Alrai
5 (5)
Indicadores
Por supuesto, aquí tienes la traducción al español: Presentamos el Indicador de Astronomía para MT4: Tu Compañero Celestial Definitivo en el Trading ¿Estás listo para elevar tu experiencia de trading a alturas celestiales? No busques más allá de nuestro revolucionario Indicador de Astronomía para MT4. Esta innovadora herramienta trasciende los indicadores de trading tradicionales, aprovechando el poder de algoritmos complejos para proporcionarte una visión astronómica sin igual y cálculos de pre
Dynamic Scalper System
Vitalyi Belyh
Indicadores
El indicador " Dynamic Scalper System " está diseñado para operar con scalping dentro de las ondas de tendencia. Probado en los principales pares de divisas y oro, es compatible con otros instrumentos de trading. Proporciona señales para la apertura de posiciones a corto plazo siguiendo la tendencia, con soporte adicional en el movimiento del precio. Fundamento del indicador: Las flechas grandes determinan la dirección de la tendencia. Un algoritmo para generar señales de scalping en forma de f
Gold Channel XAUUSD
Paulo Rocha
5 (4)
Indicadores
Gold Channel is a volatility-based indicator, developed with a specific timing algorithm for the XAUUSD pair, which consists of finding possible corrections in the market. This indicator shows two outer lines, an inner line (retracement line) and an arrow sign, where the theory of the channel is to help identify overbought and oversold conditions in the market. The market price will generally fall between the boundaries of the channel. If prices touch or move outside the channel it is a tradi
ATC AlgoZone Indicator
Ameur Boudenne
5 (2)
Indicadores
Algo Trading Indicaor  With this indicator , you’ll have zones and trends that hight probability the price will reverse from it. so will gives you all the help that you need  Why should you join us !?  1-This indicator is logical since it’s working in previous days movement , to predict the future movements. 2-Algo trading indicator will help you to draw trends which is special and are too strong than the basics trend , trends will change with the frame time that you work on . 3-We can use
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