C_ShootingStar (Function)

image\trumpet2.gif Disclaimer

The C ShootingStar function identifies the occurrence of a Shooting Star candlestick pattern

Shooting Star is defined as:

  • The body of the candle is small but not a Doji, and near the low of the bar, the tail is usually twice as long as the body

  • The price trend is rising

  • The body gaps up from the body on the previous bar

  • The previous body is green and  larger than the average body

Syntax

C ShootingStar(Percent)

Returns (Integer)

The function returns a positive one (1) when the matching candlestick pattern is found on the current bar or returns a zero (0) if the pattern is not found.   

Parameters

Name

Type

Description

Length

NumericSimple

Length used to calculate the average body.

Factor

 

NumericSimple

Threshold factor for the size of body in relation to the range of the bar ( 2 = Tail must be 2x larger than body).

Example

Plots a ShowMe on the Close of the current bar when a ShootStar candlestick pattern is found on the current bar based on a Length of 14 and a Factor of 2:

if C ShootingStar(14, 2) = 1 then

 Plot1(Close, "ShootingStar");