Shooting Star
A rally rejected: price spiked up and was sold all the way back down — supply overhead, mapped in one bar.
Single-Candle SignalsIntermediate 5 min read· Lesson 4 of 10 in Candlestick Patterns
Psychology
Buyers pushed to new highs intrabar; sellers overwhelmed them and forced a close near the lows. Everyone who bought that spike is now underwater — overhead supply for the next attempt.
Recognition
Upper wick ≥ 2× the body; little/no lower wick; small body at the range's bottom; after an advance. (The same shape after a decline is an 'inverted hammer' — a tentative bullish probe.)
Confirmation
Confirm with a close below the star's low. Entry on that break, stop above the star's high — again a clean structural risk box.
Reliability
Moderately reliable at resistance after extended moves, particularly with high volume on the star bar (many trapped buyers). Mid-range occurrences are noise.
Scanner integration
This exact pattern is the SHOOTING_STAR named condition here — the chart above marks every real occurrence on the symbol's history (hover a dot to verify), and one click opens it in the Scanner or the Backtest panel to test it on any symbol yourself. That last step is the honest part most books skip.