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.