OPEN-SOURCE SCRIPT

Shooting Star ORB

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๐Ÿง  Indicator Name: "First Candle Shooting Star + ORB"
๐Ÿ“Œ Purpose
This indicator detects when the first candle of the day forms a Shooting Star pattern and then monitors for a breakout beyond its range. It visually marks the pattern and the breakout with boxes and provides real-time alerts and a status table.

๐Ÿ” What It Does Step-by-Step
1. ๐Ÿ“… Detects the Start of a New Trading Day
Uses ta.change(time("D")) to identify a new trading day.

When a new day starts, it checks if the very first candle of the session is a Shooting Star.

2. ๐Ÿ•ฏ๏ธ Identifies a Shooting Star Pattern
A candle is labeled a Shooting Star if:

It has a small body compared to the full candle range.

It has a long upper shadow at least 2ร— the body.

It has a short or tiny lower shadow.

All these criteria are adjustable through inputs.

3. ๐Ÿ“ฆ Draws a Box for the First Candle Range
If a Shooting Star is found in the first candle of the day:

It draws a red shaded box covering the high and low of that candle.

The box visually marks the potential Opening Range.

4. ๐Ÿ’ฅ Detects Breakout from Shooting Star Candle
After the first candle:

If price moves above or below the range by a specified % (like 1%), it flags a breakout.

A blue shaded box is drawn at the breakout candle for visual confirmation.

5. ๐Ÿ”” Alerts
๐Ÿ”ด Shooting Star Detected: Alerts when the first candle is a shooting star.

๐Ÿ”ต Breakout Detected: Alerts when the price breaks out of the first candleโ€™s range.

6. ๐Ÿ“Š Displays Real-Time Info Table
A small table is shown on the chart:

๐Ÿ•ฏ๏ธ Pattern: โ€œShooting Starโ€ or blank

๐Ÿ’ฅ Breakout: โ€œYesโ€ or โ€œNoโ€

โฑ๏ธ The timeframe being analyzed (e.g., โ€œ5โ€ for 5-minute)

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.