C ShootingStar
From MultiCharts
The C ShootingStar indicator identifies the occurrence of a Shooting Star candlestick pattern and marks the bars with this pattern.
Definition
A Shooting Star is a bearish candlestick with a long upper shadow, little or no lower shadow, and a small real body near the low of the day. It is observed in the rising trend.
The Shooting Star candle pattern has the following characteristics:
- Small body (but not a Doji candle).
- The body is near the low of the bar.
- The tail is usually twice as long as the body.
- The body gaps up from the previous bar's body.
- The previous bar's body is green and larger than the average body.
Default Inputs
Length( 14 ) sets the number of bars used to calculate the average body.
Factor( 2 ) sets the body size in relation to bar range.
