Summary of ☄️Shooting Star and Hammer (Pin Bar) Indicator TradingView - 📥Download – Free [TradingFinder]

The video presents a detailed tutorial on a free Candlestick pattern indicator available on the TradingFinder website and TradingView platform. This indicator focuses on identifying four key reversal candlestick patterns: Shooting Star, Hanging Man, Hammer, and Inverted Hammer, which are critical for recognizing potential trend reversals in price movements.

Main Financial Strategies and Market Analyses:

Reversal Pattern Identification: The indicator helps traders spot bullish and bearish reversal patterns visually on price charts, aiding in timing entry and exit points.
Trend Alignment Filtering: Users can choose to display only those candlestick patterns that align perfectly with the current trend or include counter-trend pin bars for broader analysis.
Pin Bar Detection: The tool also highlights pin bar candlestick patterns, which are important signals of price rejection and potential reversals.

Key Features and Functionalities:

Visual markers on charts:
- Green circles for bullish patterns
- Red circles for bearish patterns
- Triangles for pin bars against the trend
Customizable settings allow traders to fine-tune pattern detection based on shadow-to-body ratios and pivot periods.
Option to show or hide bullish/bearish pin bars independently.
Information table toggle to display or remove detailed symbol descriptions on the chart.
Ability to add the indicator to favorites on TradingView for quick access.

Step-by-Step Guide to Use the Indicator:

Visit the TradingFinder website to download or access the indicator.
On TradingView, search for the indicator in the indicator section.
Select and apply the indicator to your chart.
Optionally, add the indicator to favorites for easier future access.
Configure settings under the inputs tab:
- Enable/disable trend-aligned pattern display
- Adjust pivot period (default is 2)
- Set shadow-to-body ratio parameters for bullish and bearish pin bars
- Choose to show/hide bullish and bearish pin bars
- Enable or disable the information table
Analyze the chart for visually marked candlestick reversal patterns to inform trading decisions.

Presenters / Sources:

The tutorial appears to be presented by the TradingFinder team or content creators associated with the TradingFinder website. No individual presenter names are mentioned.

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