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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Pulse Scalping Line - an indicator for identifying potential pivot points. Based on this indicator, you can build an effective Martingale system. According to our statistics, the indicator gives a maximum of 4 erroneous pivot points in a series. On average, these are 2 pivot points. That is, the indicator shows a reversal, it is erroneous. This means that the second signal of the indicator will be highly accurate. Based on this information, you can build a trading system based on the Martingale
GoldRush Trend Arrow Signal
Kirk Lee Holloway
5 (2)
Indicatori
Segnale GoldRush Trend Arrow L'indicatore GoldRush Trend Arrow Signal fornisce un'analisi precisa e in tempo reale dei trend, pensata appositamente per gli scalper ad alta velocità e a breve termine nel mercato XAU/USD. Progettato specificamente per il timeframe di 1 minuto, questo strumento mostra frecce direzionali che indicano chiari punti di ingresso, consentendo agli scalper di navigare con sicurezza nelle condizioni di mercato volatili. L'indicatore è composto da frecce di avviso PRIMA
Quantum Regime Indicator
Gideon Asiamah Yeboah
Indicatori
Product Name:   Quantum Regime Indicator Short Description:   A multi-engine structural regime and volatility filter. Description: Quantum Regime Indicator (QRI) is a sophisticated technical analysis algorithm designed to identify market structure shifts and volatility regimes. Unlike standard indicators that rely on immediate price action, QRI utilizes a hierarchical logic architecture to filter market noise and identify statistical extremes. The indicator is built on the philosophy of "Market
F 16 Plane Indicator
Ramzi Abuwarda
Indicatori
Presentiamo l'Indicatore F-16 Plane, uno strumento all'avanguardia per MT4 progettato per rivoluzionare la tua esperienza di trading. Ispirato alla velocità e alla precisione imbattibili dell'aereo da combattimento F-16, questo indicatore combina algoritmi avanzati e tecnologia all'avanguardia per offrire prestazioni senza precedenti sui mercati finanziari. Con l'Indicatore F-16 Plane, volerai al di sopra della concorrenza poiché fornisce analisi in tempo reale e genera segnali di trading estrem
POWR Rise Coming
Trade Indicators LLC
Indicatori
This indicator is SO SIMPLE… when the green Rise Coming arrow appears, a price drop may be on the way! Plain and easy profits! As you receive more than one 'Rise Coming' text signal in a downtrend, it means momentum is building larger for a bull run. HOW TO USE 1. When the green "Rise Coming" text appears, a price jump may be on the way! This indicator Never Repaints! To get the best setting it's a matter of tweaking the indicator until it gives you the best results. Our recommendation, and what
WaveTheoryFully automatic calculation
Kaijun Wang
5 (4)
Indicatori
Questo indicatore è un indicatore per l'analisi automatica delle onde perfetto per il trading pratico! Caso... Nota:   non sono abituato a usare nomi occidentali per la classificazione delle onde a causa dell'influenza della convenzione di denominazione di Tang Lun (Tang Zhong Shuo Zen), ho chiamato l'onda base come   penna   e la banda dell'onda secondaria come   segmento   At allo stesso tempo, il segmento ha la direzione del trend. La denominazione   è principalmente segmento di trend   (que
ECM Channel MT4
Paulo Rocha
Indicatori
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
OrderFlow Absorption
Chi Sum Poon
Indicatori
OrderFlow Absorption – Indicatore professionale di Delta e Segnali di Assorbimento per MT4 Sblocca la potenza della vera analisi del flusso degli ordini con OrderFlow Absorption – l’indicatore definitivo di istogramma delta e segnali di assorbimento per MetaTrader 4. Progettato per i trader che vogliono vedere cosa succede davvero dietro ogni movimento di prezzo, questo strumento rivela la pressione nascosta di acquisto/vendita e gli eventi di assorbimento che muovono il mercato. Caratteristiche
Rtc ML Ai Predictor MT4
Muhammad Faisal Sagala
Indicatori
Rtc ML Ai | Predictor CORE MACHINE LEARNING ENGINE Adaptive ML Market Predictor – Multi-Bar Trend & Candle Forecast What This Indicator Does This indicator is a  real-time market prediction engine  designed to analyze price behavior and estimate  future market tendencies . Unlike conventional indicators, this system  does not rely on static parameters or historical curve-fitting , but adapts its internal state dynamically during live market operation. Instead of using static rules, the indic
Beast Super Signal
Dustin Vlok
4.73 (89)
Indicatori
Alla ricerca di un potente indicatore di trading forex che possa aiutarti a identificare facilmente opportunità di trading redditizie? Non guardare oltre il Super Segnale Bestia. Questo indicatore basato sulle tendenze di facile utilizzo monitora continuamente le condizioni del mercato, cercando nuove tendenze in via di sviluppo o saltando su quelle esistenti. Il Beast Super Signal fornisce un segnale di acquisto o di vendita quando tutte le strategie interne sono allineate e sono al 100% in con
Nihilist and ForexAlien Indicator
TRADERWE FOREX SL
Indicatori
The Nihilist 5.0 Indicator includes Forexalien and Nihilist Easy Trend trading strategies and systems. It is composed of an MTF Dashboard where you can analyze the different input possibilities of each strategy at a glance. It has an alert system with different types of configurable filters. You can also configure which TF you want to be notified on your Metatrader 4 platform and Mobile application The indicator has the option to view how could be a TP and SL by using ATR or fixed points, even w
Smart Price Action Concepts
Issam Kassas
4.75 (12)
Indicatori
Innanzitutto, vale la pena sottolineare che questo Strumento di Trading è un Indicatore Non-Ridipingente, Non-Ridisegnante e Non-Laggante, il che lo rende ideale per il trading professionale. Corso online, manuale utente e demo. L'Indicatore Smart Price Action Concepts è uno strumento molto potente sia per i nuovi che per i trader esperti. Racchiude più di 20 utili indicatori in uno solo, combinando idee di trading avanzate come l'Analisi del Trader del Circolo Interno e le Strategie di Trading
Forex Liquidity Finder
Aditya Jayswal
Indicatori
ZeusArrow Smart Liquidity Finder  Smart Liquidity Finder is Ai controlled indicator based on the Idea of Your SL is My Entry. It scan and draws the major Liquidity areas on chart partitioning them with Premium and Discount Zone and allows you find the best possible trading setups and help you decide the perfect entry price to avoid getting your Stop Loss hunted . Now no more confusion about when to enter and where to enter. Benefit from this one of it's kind trading tool powered by Ai an trade
Advanced Arrow
Alfred Kamal
3.9 (39)
Indicatori
This indicator depends on some secrets equations to draw Signals with Stop loss and maximum 4 Take profits. There is a free EA depends on this indicator as a gift when you purchase/rent it. Features Simply it gives you entry point as Ready sign (Buy / Sell) and arrow (Buy / Sell) after candle closed, also SL line and 4 TP lines or less. Once SL-TP lines are shown with the arrow, they remains as they are until signal change. It is historical indicator. No Repaint. user manual for V5 please click
ATC AlgoZone Indicator
Ameur Boudenne
5 (2)
Indicatori
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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