Abandoned Bar Study Indicator Thinkorswim TOS Script
Abandoned Bar Study Indicator ThinkorSwim TOS Script
The Abandoned Bar Study is a must have tool for investors and traders who like to buy the dip or short unusual price gains in stocks. This indicator works as a powerful statistical tool and shows the user the percentage of “Abandoned Bars” for any stock, ETF index fund, Forex currency pair, or futures contract. The information provided to you by this study will tell you when “buying the dip” is a good idea, taking into account historical data for whatever time frame you may be looking at.
We all know that trading a reversion to the mean can be a very profitable strategy. Using Market Prowler’s Abandoned Bar study you will be able to view important statistical data for the percentage of abandoned bars in your current price chart -regardless of what ticker symbol you are looking at or what trading time frame is applied. The indicator will search for abandoned bars – those who’s median price was not met within the next N bars (N is a user defined variable), and it paints these bars with an easy to view triangle. The Abandoned Bar study will also display what the median price was for the last 3 abandoned bars – allowing you to short or long a stock with a clear and well-defined price target. It works on all time frames and can be used for swing trades, day trades, as well as long-term investment entry points.
Works with Futures,Forex Currency Pairs, and Stocks
Works with the ThinkOrSwim trading platform
Using this indicator you will never be on the wrong side of a trade again.
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