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Shooting Star Candlestick: definition and measured success rate
Data as of 31.07.2026 · back-test since 07/2019
A shooting star is a single-candle reversal signal: price rallies sharply during the session but closes near its low, leaving a long upper shadow and a small body. Sellers rejected the entire intraday advance before the close. In chartval's back-test, it worked in 45 of 100 comparable cases (5,071 occurrences).
How does a shooting star candlestick form?
During an advance, buyers push price far above the open, but the gains do not hold — the close gives the whole range back. At a tested resistance level after a rally, that rejection marks the spot where supply reliably appears.
How reliable is the shooting star candlestick?
In chartval's historical back-test across 274 stocks, ETFs and cryptocurrencies, the shooting star candlestick reached a 5 percent move in the signal direction before a 5 percent counter-move in 45 of 100 cases (5,071 occurrences evaluated since 07/2019; data as of 31.07.2026). Past statistics are not a reliable indicator of future results.
Measurement: a case counts as a hit when price moved 5 percent in the signal direction before moving 5 percent against it, based on closing prices, within a maximum of 120 candles after the trigger.
How chartval detects the pattern
chartval requires a long upper shadow relative to the body, a close near the session low, a preceding advance and nearby resistance, and grades the candle by these proportions. chartval scans 274 stocks, ETFs and cryptocurrencies daily; every signal names an entry, a target and the level at which the setup is invalidated.
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