Shotty is used in working class central belt Scotland to replace the phrase 'watch out', 'beware', 'there is someone coming' etc etc etc so that the teacher/parent/adult is not aware that others are being warned of their approach.
warningwhistleowl hoot
A teacher leaves a class in gymnastics to check on something. The class, in absence of the teacher continue to fight/shag/smoke and generally be wee shites. On the teachers return to the class the lookout (or whoever notices) shouts "shotty" at which point the class beagan doing rolly polly's and other such appropriate behaviour as to not get in trouble.
or
#Robber: "I'm almost finished robbing this rich bastard-is the coast still clear look out"?
#Look out: "SHOTTY"!(rather than "shit man thats the fucking police")
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