Thanks. Can't believe we don't already have this in TradingView by default. I appreciate your script.
SG_Investor
⋅
@SG_Investor, Hi - have been playing around with this. So this works well if we use the High = Close and Close = Close. But if you use High = Close and Close = Low, then in some charts it doesn't recover back to 0 for new ATH. For example you can take a look on FB daily or weekly chart with this setting.
SG_Investor
⋅
@SG_Investor, Another improvement. For certain charts, like QQQ, which had a huge drawdown after the dotcom, the indicator will perpetually be a in drawdown. So maybe another setting to add is to force the indicator to only use the ATH from a given period ago. This would help in cases where the stock underwent a long term drawdown, because I might not care if it happened 10 years ago.
Daxdop
⋅
@SG_Investor, thank you very much. I added the feature you suggested. Let me know if there are any problems
SG_Investor
⋅
@Daxdop, Thanks Daxdop! Appreciate this! One thing though is that it would be good if you can bring back the option to choose both the close and the high. Still think that is useful to able to choose both. Thanks!
vandama
⋅
@Daxdop, appreciate the work! How about an option to calculate draw down from 52 week high or x week high?