Percentage Retracement from ATH

1. Feb.

█ OVERVIEW
The Percentage Retracement from ATH indicator is a dynamic trading utility designed to help traders gauge market pullbacks from the peak price. By calculating key retracement levels based on the All-Time High (ATH) and user‑defined percentage inputs, it offers clear visual cues to assist in identifying potential support and resistance zones.


█ KEY FEATURES

• Custom Date — Use a custom start date so the indicator only considers specified price action.
  
• Retracement Calculation — Determines ATH and calculates levels based on user‑defined percentages (0% to –100%).
  
• Visual Customisation — Plots configurable horizontal lines and labels showing retracement percentages and prices.
  
• Time Filtering — Uses time filtering to base levels on the desired data period.
  

█ PURPOSE

• Assist traders in visualising the depth of price retracements from recent or historical peaks.
  
• Identify critical zones where the market may find support or resistance after reaching an ATH.
  
• Facilitate more informed entry and exit decisions by clearly demarcating retracement levels on the chart.
  

█ IDEAL USERS

• Swing Traders — Looking to exploit pullbacks following strong upward moves.
  
• Technical Analysts — Interested in pinpointing key retracement levels as potential reversal or continuation points.
  
• Price Action Traders — Focused on the nuances of market peaks and subsequent corrections.
  
• Strategy Developers — Keen to backtest and refine approaches centred on retracement dynamics.
  

1. Feb.

Versionshinweise

Fixed label bug