Shooting Star Detector[cryptovarthagam]

🌠 Shooting Star Detector [Cryptovarthagam]
The Shooting Star Detector is a powerful price action tool that automatically identifies potential bearish reversal signals using the well-known Shooting Star candlestick pattern.

Ideal for traders who rely on candlestick psychology to spot high-probability short setups, this script works across all markets and timeframes.

🔍 What is a Shooting Star?
A Shooting Star is a single-candle pattern that typically forms at the top of an uptrend or resistance zone. It’s characterized by:

A small body near the candle's low,

A long upper wick, and

Little or no lower wick.

This pattern suggests that buyers pushed price higher but lost control by the close, hinting at potential bearish momentum ahead.

✅ Indicator Features:
🔴 Accurately detects Shooting Star candles in real-time

🔺 Plots a red triangle above every valid signal candle

🖼️ Optional background highlight for visual clarity

🕵️‍♂️ Strict ratio-based detection using:

Wick-to-body comparisons

Upper wick dominance

Optional bearish candle confirmation

⚙️ Detection Logic (Rules Used):
Upper wick > 60% of total candle range

Body < 20% of total candle

Lower wick < 15% of candle range

Bearish candle (optional but included for accuracy)

These rules ensure high-quality signals that filter out false positives.

📌 Best Use Cases:
Spotting trend reversals at swing highs

Confirming entries near resistance zones

Enhancing price action or supply/demand strategies

Works on: Crypto, Forex, Stocks, Commodities

🧠 Trading Tip:
Pair this detector with volume confirmation, resistance zones, or bearish divergence for higher-probability entries.

📉 Clean, minimal, and non-repainting — designed for traders who value accuracy over noise.

Created with ❤️ by Cryptovarthagam
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