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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Precautions for subscribing to indicator This indicator only supports the computer version of MT4 Does not support MT5, mobile phones, tablets The indicator only shows the day's entry arrow The previous history arrow will not be displayed (Live broadcast is for demonstration) The indicator is a trading aid Is not a EA automatic trading No copy trading function The indicator only indicates the entry position No exit (target profit)  The entry stop loss point is set at 30-50 PIPS Or the front hi
Quantum Momentum Guard
Ashraful Alam
Göstergeler
Quantum Momentum Guard (QMG) Advanced Breakout & Momentum Indicator for MetaTrader 4 Quantum Momentum Guard (QMG) is a next-generation MetaTrader 4 trading indicator designed to identify high-probability breakout opportunities using a powerful combination of advanced momentum analysis and high-level mathematical calculations . Unlike ordinary indicators that generate signals based on a single condition, QMG confirms every breakout with momentum strength and mathematical validation , ensuring
Linear Trend Predictor
Vitalyi Belyh
Göstergeler
Linear Trend Predictor - Giriş noktalarını ve yön destek çizgilerini birleştiren bir trend göstergesi. Yüksek/Düşük fiyat kanalını kırma prensibiyle çalışır. Gösterge algoritması piyasa gürültüsünü filtreler, oynaklığı ve piyasa dinamiklerini dikkate alır. Gösterge yetenekleri  Düzeltme yöntemleri kullanılarak piyasa trendi ve ALIM veya SATIŞ emirlerinin açılabileceği giriş noktaları gösterilir.  Herhangi bir zaman dilimindeki grafikleri analiz ederek kısa ve uzun vadeli piyasa hareketlerini
Pulse Scalping Line
Andrey Kozak
Göstergeler
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
Mr Beast Zonas de Liquidez y alertas
Luis Mariano Vazquez Marcos
Göstergeler
El indicador "MR BEAST ALERTAS DE LIQUIDEZ" es una herramienta avanzada diseñada para proporcionar señales y alertas sobre la liquidez del mercado basándose en una serie de indicadores técnicos y análisis de tendencias. Ideal para traders que buscan oportunidades de trading en función de la dinámica de precios y los niveles de volatilidad, este indicador ofrece una visualización clara y detallada en la ventana del gráfico de MetaTrader. Características Principales: Canal ATR Adaptativo: Calcula
Meravith
Ivan Stefanov
5 (3)
Göstergeler
Market maker aracı. Meravith şunları yapar: Tüm zaman dilimlerini analiz eder ve geçerli trendi gösterir. Alış ve satış hacimlerinin eşit olduğu likidite bölgelerini (hacim dengesi) vurgular. Farklı zaman dilimlerinden tüm likidite seviyelerini doğrudan grafiğinizde gösterir. Referansınız için metin tabanlı piyasa analizi üretir ve sunar. Mevcut trende göre hedefler, destek seviyeleri ve stop-loss noktalarını hesaplar. İşlemleriniz için risk/ödül oranını hesaplar. Hesap bakiyenize göre pozisyon
Equilibrium Fractal Wave Analytics MT4
Young Ho Seo
5 (2)
Göstergeler
Introduction to EFW Analytics EFW Analytics was designed to accomplish the statement "We trade because there are regularities in the financial market". EFW Analytics is a set of tools designed to maximize your trading performance by capturing the repeating fractal geometry, known as the fifth regularity in the financial market. The functionality of EFW Analytics consists of three parts. Firstly, Equilibrium Fractal Wave Index is an exploratory tool to support your trading logic to choose which r
IQ Gold Gann Levels
INTRAQUOTES
5 (4)
Göstergeler
Presenting one-of-a-kind Gann Indicator for XAUUSD IQ Gold Gann Levels is a non-repainting, precision tool designed exclusively for XAUUSD/Gold intraday trading. It uses W.D. Gann’s square root method to plot real-time support and resistance levels, helping traders spot high-probability entries with confidence and clarity. William Delbert Gann (W.D. Gann) was an exceptional market analyst whose trading technique was based on a complex blend of mathematics, geometry, astrology, and ancient calcul
Buy Sell Arrow Swing MT4
Sahib Ul Ahsan
3 (2)
Göstergeler
Are you looking for a simple and reliable indicator that can help you spot market swing points easily? Do you want clear buy and sell signals that work on any timeframe and any trading instrument? Buy Sell Signal Pro   is designed to do exactly that. It helps traders identify important market turning points and understand the current market structure in a clear and easy way. This indicator detects   Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL)   so you can quickly
Binary Booster
Yaroslav Varankin
5 (1)
Göstergeler
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
Buy Sell Signal Pro
Sahib Ul Ahsan
Göstergeler
Buy Sell Signal Pro Looking for a precise and efficient swing detection tool that clearly identifies market structure turning points? Need consistent and easy-to-read buy and sell signals across different timeframes and instruments? Buy Sell Signal Pro  is designed to deliver accurate swing identification with a clean and practical approach, helping traders interpret price structure with confidence. Overview This indicator detects key market structure points, including: Higher Highs (HH) Higher
Crosskalp1
Mikhail Bilan
Göstergeler
Добрый День уважаемые трейдеры!  Вашему вниманию индикатор созданный и работающий на базе трендовика ADX,  для торговли на смене направления движения который учитывает коррекцию и даёт возможность на ней заработать.  Применяю этот индикатор для скальпинга. Рекомендую таймфреймы от 15 ти минутного(М15) до часового (Н1) периодов.  Красный кружок сигнал на продажу- Sell) Зелёный кружок  сигнал на покупку Buy) Чем меньше ваш таймфрейм тем меньше пунктов вы зарабатываете.   Важно выставлять стопы! !В
GEM Signal MT4
Shengzu Zhong
Göstergeler
GEM Signal Pro GEM Signal Pro, MetaTrader 4 için geliştirilmiş bir trend takip göstergesidir ve daha net sinyaller, daha düzenli işlem kurulumları ve daha pratik risk yönetimini doğrudan grafik üzerinde görmek isteyen yatırımcılar için tasarlanmıştır. Sadece basit bir ok göstermek yerine, GEM Signal Pro işlem fikrinin tamamını daha temiz ve daha okunabilir bir şekilde sunmaya yardımcı olur. Koşullar onaylandığında, gösterge giriş fiyatını, stop loss seviyesini ve take profit hedeflerini grafik ü
Quantum Regime Indicator
Gideon Asiamah Yeboah
Göstergeler
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
Fxland Price Reversal Zones
afshin dehghanpour
Göstergeler
Fxland Price Reversal Zones (MT4) FXLAND Smart Reversal Indicator is a professional technical analysis tool designed to help traders identify potential price reversal zones and key market turning points with clarity and precision. The best reversal indicator and price return by choosing only one ceiling or floor in each time frame A masterpiece of combining mathematics and Gann, fractal matrix, Fibonacci, movement angle and time. Completely intelligent Key Features Detects potential pr
PairMaster Buy Sell Arrow
Issam El Amri
Göstergeler
PairMaster Buy Sell Arrow Indicator for MT4 Trade Reversals Like a Pro — Catch Every Swing Point with Precision The PairMaster Buy Sell Arrow Indicator is a powerful MetaTrader 4 tool built to identify high-probability swing trading opportunities . Designed for traders who value accuracy, clarity, and simplicity, PairMaster detects key market turning points and plots intuitive buy and sell arrows directly on your chart. Key Features Accurate Swing Point Detection – Automatically identifies ma
Weis Wave with Alert
Trade The Volume Waves Single Member P.C.
4.82 (22)
Göstergeler
Rental/Lifetime Package Options and Privileges' Rent Monthly Six Months   Yearly/Lifetime Weis Wave with Speed with Alert+Speed Index x x x Manual  x x x Quick Set up Video x x x Blog x x x Lifetime Updates x x x Setup and Training Material x x Rectangle Break Alert Tool      x Discord Access Channel "The SI traders" x   How to trade info visit:    http://www.tradethevolumewaves.com   ** If you purchase please contact me to setup your  : training Room and  complete manual access.  This is
DragonsTail Indicator MT4
Maria Strudov
Göstergeler
"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
NAM Order Blocks
NAM TECH GROUP, CORP.
3.67 (3)
Göstergeler
MT4 Multi-timeframe Order Blocks detection indicator. Features - Fully customizable on chart control panel, provides complete interaction. - Hide and show control panel wherever you want. - Detect OBs on multiple timeframes. - Select OBs quantity to display. - Different OBs user interface. - Different filters on OBs. - OB proximity alert. - ADR High and Low lines. - Notification service (Screen alerts | Push notifications). Summary Order block is a market behavior that indicates order collection
Nihilist and ForexAlien Indicator
TRADERWE FOREX SL
Göstergeler
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
Beast Super Signal
Florian Zuercher
4.73 (89)
Göstergeler
Kârlı ticaret fırsatlarını kolaylıkla belirlemenize yardımcı olabilecek güçlü bir forex ticaret göstergesi mi arıyorsunuz? Beast Super Signal'den başka bir yere bakmayın. Bu kullanımı kolay trend tabanlı gösterge, sürekli olarak piyasa koşullarını izleyerek yeni gelişen trendleri araştırır veya mevcut trendlere atlar. Canavar Süper Sinyali, tüm dahili stratejiler birbiriyle uyumlu ve %100 örtüştüğünde bir al ya da sat sinyali vererek ek onay ihtiyacını ortadan kaldırır. Sinyal oku uyarısını aldı
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