One candle, three names, one meaning
A pin bar, a hammer and a shooting star are the same candle described three ways: a small body with one long wick.
- Long lower wick, small body near the top — rejection of lower prices
- Long upper wick, small body near the bottom — rejection of higher prices
The names encode where it appears (a hammer at a low, a shooting star at a high) rather than what it is. The candle is identical; the location supplies the meaning.
What it records
Price moved a long way in one direction during the period and was pushed all the way back before the close.
That is the whole message: somebody tried, and somebody stronger refused. Traders who entered near the wick extreme are now underwater, and their exits will push price further against them.
The measurements that separate signal from shape
Not every small-bodied candle qualifies. Three checks, and they take seconds:
1. Wick-to-body ratio. The wick should be at least twice the body, ideally three times. A candle with a 20-pip wick and a 15-pip body is not a rejection — it is a candle that moved around.