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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Rtc ML Ai Predictor MT4
Muhammad Faisal Sagala
Indicateurs
Product Description Rtc ML Ai Predictor — Futuristic Intelligence for Real-Time Market Decisions Bring robotic precision to your trading.   Rtc ML Ai Predictor   fuses   Machine Learning   with   SMA-shift dynamics   to forecast short-term momentum and trend inflection points with clarity. The model evaluates multi-factor market structure, assigns a   confidence score   to each signal, and lets you act only when conditions align with your rules. Why traders choose Rtc ML Ai Predictor AI-guided e
ECM Channel MT4
Paulo Rocha
Indicateurs
ECM Elite Channel is a volatility-based indicator, developed with a specific time algorithm, 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 channel theory 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's a trading opportunity. The ind
GoldRush Trend Arrow Signal
Kirk Lee Holloway
5 (2)
Indicateurs
Signal GoldRush Trend Arrow L'indicateur GoldRush Trend Arrow Signal fournit une analyse précise et en temps réel des tendances, spécialement conçue pour les scalpers à haute vitesse et à court terme sur la paire XAU/USD. Conçu spécialement pour les intervalles de temps d'une minute, cet outil affiche des flèches directionnelles indiquant clairement les points d'entrée, ce qui permet aux scalpers de naviguer en toute confiance dans des conditions de marché volatiles. L'indicateur se compose
ATC AlgoZone Indicator
Ameur Boudenne
5 (2)
Indicateurs
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
Wall Street Indicator
Nicola Capatti
Indicateurs
Ultimate Arrow Indicator - Votre outil pour réussir dans le trading ! Vous en avez assez des outils qui promettent beaucoup mais offrent peu ? Notre Ultimate Arrow Indicator pour MT4 est la solution définitive qui propulsera votre trading à un niveau supérieur. Cet indicateur a été conçu avec une précision chirurgicale pour vous offrir des signaux clairs, fiables et sans compromis. Voici pourquoi Ultimate Arrow Indicator est le choix idéal pour les traders expérimentés et les débutants : Perform
BinaryUniversal
Andrey Spiridonov
Indicateurs
BinaryUniversal is a signal indicator for binary options and Forex. In its work, the indicator uses a complex algorithm for generating signals. Before forming a signal, the indicator analyzes volatility, candlestick patterns, important support and resistance levels. The indicator has the ability to adjust the accuracy of the signals, which makes it possible to apply this indicator for both aggressive and conservative trading. The indicator is set in the usual way, it works on any time period and
X3 Chart Pattern Scanner MT4
Young Ho Seo
3.67 (3)
Indicateurs
Introduction to X3 Chart Pattern Scanner X3 Cherart Pattern Scanner is the non-repainting and non-lagging indicator detecting X3 chart patterns including Harmonic pattern, Elliott Wave pattern, X3 patterns, and Japanese Candlestick patterns. Historical patterns match with signal patterns. Hence, you can readily develop the solid trading strategy in your chart. More importantly, this superb pattern scanner can detect the optimal pattern of its kind. In addition, you can switch on and off individu
DragonsTail Indicator MT4
Maria Strudov
Indicateurs
"Dragon's Tail" is an integrated trading system, not just an indicator. This system analyzes each candle on a minute-by-minute basis, which is particularly effective in high market volatility conditions. The "Dragon's Tail" system identifies key market moments referred to as "bull and bear battles". Based on these "battles", the system gives trade direction recommendations. In the case of an arrow appearing on the chart, this signals the possibility of opening two trades in the indicated directi
Scientific trade
Aleksey Ivanov
5 (1)
Indicateurs
An extremely convenient indicator that truly makes the process of making money on the exchange easy. It is based on the scientifically rigorous theory of the market developed by the author, the beginning of which is presented here .                The full algorithm of this indicator operation is presented in the article .               The indicator calculates the most probable price movement trajectory and displays it on the chart. Based on the predicted price movement trajectory
Super Signal Skyblade Edition MT4
Shengzu Zhong
5 (1)
Indicateurs
Super Signal – Skyblade Edition Système de signaux de tendance professionnel sans repaint / sans latence, avec un taux de réussite exceptionnel | Pour MT4 / MT5 Caractéristiques principales : Super Signal – Skyblade Edition est un système de signaux intelligent conçu spécifiquement pour le trading de tendance. Il utilise une logique de filtrage multicouche pour détecter uniquement les mouvements directionnels forts soutenus par un véritable momentum. Ce système ne cherche pas à prédire les som
Hit Rate Top Bottom Signal
Martin Alejandro Bamonte
Indicateurs
Hit Rate Top Bottom Signal Hit Rate Top Bottom Signal Hit Rate Top Bottom Signal offre une approche totalement innovante. Il est idéal pour ceux qui souhaitent évaluer à l’avance comment le signal fonctionne avec un TP-SL spécifique et dans quels PAIRES/TF il est le plus performant. La stratégie Hit Rate Top Bottom Signal est un outil essentiel pour tout trader et type de trading car elle émet non seulement des signaux précis sans redessiner , indiquant clairement quand trader et dans quelle dir
Gold Channel XAUUSD
Paulo Rocha
5 (4)
Indicateurs
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
Ultimate market move master trend
Godwin Edward Enyali
Indicateurs
Ultimate Market Master Trend Maîtrisez la direction du marché avec précision L’indicateur Ultimate Market Master Trend est un analyseur complet du sentiment de marché, conçu pour les traders exigeants qui recherchent clarté, précision et confiance dans chaque mouvement. Il combine une détection intelligente de la tendance , un Stochastique multi-unités de temps , et des repères visuels dynamiques pour vous aider à identifier facilement les points d’entrée et de sortie à forte probabilité.  Cara
Key level wedge pro
Presley Annais Tatenda Meck
5 (1)
Indicateurs
We have combined all of our beloved indicators the likes of: Key level order block , Key level supply and demand , Key level liquidity grab and Key level wedge into one single indicator and dashboard. Whats new Dashboard : There is an easy access dashboard for all your needs. Multi-timeframe button : There is now a multi-timeframe option for Order Blocks and Supply and demand zones, making it easy to see higher timeframe zones easily on the current timeframe by just clicking the desired timefra
Scalping Master M5
Andrey Kozak
Indicateurs
This indicator is a multifunctional technical analysis tool based on the combination of an adaptive exponential moving average and volatility filters calculated through the Average True Range (ATR). It is designed to accurately identify the current price direction, highlight key trend reversal areas, and visualize potential turning zones. The algorithm is built upon the dynamic construction of a trend ribbon using two levels of volatility — outer and inner ranges. The outer boundaries serve as i
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