Buy the Dip Indicator for ThinkorSwim

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BenTen

BenTen

Administrative
Staff
VIP
Buy the Dip, formerly Market Sentiment, is a simple yet powerful swing trading indicator for ThinkorSwim. Designed to be used on the higher timeframe charts such as Weekly, Daily, 4HR, and 1HR.

Let's go over some of the core features.

The Standard Version

The standard Buy the Dip indicator will be an oscillator, sitting nicely at the bottom of your chart. When the green line is at or crosses below the Zero line, it means the stock may have reached its low point, often a sign of reversal. We use this as an opportunity to buy shares (or long term option contracts) when the stock is underpriced.



The Advanced Version

The advanced version will include several features such as filtered signals, labels, built-in multi time frame moving averages.







Scanner

Not sure how to find stocks to swing trade? Our scanner makes it easy.



In case you still need help, rest assure there will be a video tutorial to walk you through the scanning process.

Watchlist Column

The watchlist column script will be provided to give you an insight into each timeframe without having to switch between the chart.



Download Buy the Dip indicator

All members with active VIP memberships may now download the indicator from its dedicated page here. If you're not a VIP member yet, consider upgrading your account. You can learn more about our VIP subscription on this page.


Frequently Asked Questions

Q. How well does this work?

This is the only indicator I'm currently using, along with support and resistance levels. But you don't have to take it from me. Read the reviews shared here.

Q. Can I use this indicator to day trade?

How you use this indicator is entirely up to you. Although it was designed for swing trading, you can still use the indicator on a smaller timeframe such as the 1m, 5m, and 15m to day trade.

Q. What timeframe does this indicator work on?

All time frame, but our suggestions are Weekly, Daily, 4HR, and 1HR.

Q. Does this work on the E-mini Futures (/ES, /CL, etc)

Yes.

Q. Will this work on the mobile app?

Yes.

Q. Is this a repainting indicator?

Absolutely NOT!

Q. Can I cancel my subscription at any time?

Yes, at any time! By signing up for the membership, you will receive the indicator along with 1 year of free support and update. If you rather not have it renewed automatically, you can cancel at anytime and not get charged again next year.

Q. Where do I go to get the indicator?

Click here to upgrade your account to VIP and you'll receive a copy of it.
 
Last edited:
BenTen

BenTen

Administrative
Staff
VIP
Due to popular demand, the standard version of our Buy the Dip indicator is now available on TradingView.

To all existing members, you do not need to use TradingView. It's not a requirement. This is for anyone who uses TradingView as an alternative charting platform. If you prefer to stay on ThinkorSwim, no action is required.

If you would like to access the indicator on TradingView, please fill out this form: https://usethinkscript.typeform.com/to/sMcYE29D

Once you have been added, the indicator will be available under Invite-only scripts.

 
BenTen

BenTen

Administrative
Staff
VIP
Made some changes to the script today.

Update #1

Added MTF (Multi-timeframe) labels so you can quickly retrieve the BTD values of the Weekly, Daily, 4HR, 2HR, and 1HR while charting on the lower timeframe.



Update #2

TradingView version now includes a signal every time the BTD line crosses below the Zero line.

 
BenTen

BenTen

Administrative
Staff
VIP
Over the weekend, we released the Conservative Model of our Buy the Dip indicator. We hope that it will reduce the number of signals given while increasing the probability of success.

You can now choose between the Aggressive Model and the Conservative Model.

All versions are available in the private VIP forum.

 
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