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OPEN-SOURCE SCRIPT

Hammer & Shooting Star Candle Detector

By MoriFX
Updated
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
Candlestick AnalysiscandlestickpatternHammerShooting Star

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 publication is governed by House rules. You can favorite it to use it on a chart.

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MoriFX
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