The Shooting Star Japanese Candlestick Screen is the 10th in the Series: Japanese Candlestick Trading: Stock Screens for 15 Candlestick Patterns
Shooting Star Pattern Definition
The Shooting Star pattern is a bearish trend reversal pattern that resembles a gravestone Doji combined with an upward gap. Shooting Stars occur during uptrends, or bullish pullbacks in a bearish trend. The pattern is essentially comprised of two candlesticks. The first candlestick should have a larger than average real body. The second candlestick should gap up from the first candle, should have little to no bottom shadow, and should have a top shadow that is larger than the real body size.
Key Characteristics
Type: Bearish Reversal
Reliability: 5.9 / 10
Inbound Trend: Bullish
Performance: 5.1 / 10
Shooting Star Candlestick Pattern Screen
This stock screen uses stockfetcher.com 2.0
set{body_bottom,min(open,close)}
set{body_top,max(open,close)}
set{lshadowsize, body_bottom – low}
set{tshadowsize, high – body_top}
set{tshadowsize2, tshadowsize * 2}
set{body_size, body_top – body_bottom}
set{large_body, 1.5 * body_size}
show stocks where lshadowsize is less than 0.001
and tshadowsize2 > body_size
and body_size 1 day ago is greater than CMA(large_body,30)
and body_bottom > close 1 day ago
and close increasing for the last 3 days
and close above 5
and average volume(30) is above 250000
Popularity: 4% [?]
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