In this video I show how to create custom bear indicators in the ThinkOrSwim platform. This will alert you to potential bearish reversals in the stock market for a particular stock. You can then create alerts based on this bearish indicator study so that you don’t have to watch your computer screen all morning.
This is not the end-all be-all bearish indicator but is merely a video to get you going in creating your or ThinkOrSwim studies.
plot plot_volume =
if volume > volume + volume then
if close < open then high else Double.Nan else Double.NaN;