A shooting star is more reliable on a daily chart because higher timeframes filter out noise and reflect genuine session-long rejection of higher prices. The Shooting Star's reliability changes depending on where and when you use it; its success rate is highest on longer timeframes and drops on shorter ones due to increased market noise.
Studies show a roughly 65-70% reliability rate when confirmation rules are followed on higher timeframes.
Experienced traders note it performs best on 4-hour, daily, and weekly charts where noise is lower, while intraday charts often generate patterns that lack genuine follow-through.