Hello traders,
This script attempts to inform trading decisions/sentiment via drawdown (percent) from all time high. Any fan of fibonacci should find this useful.
All time high is essentially checked and the script adapts to new/broken all time highs. The plot shapes and signals are based on the candle closes below these common percents from all time high. Use the signals at your own discretion.
Lines and styling are placed at the further extremes of the common % candles. For example, for "Tops", when candles cross under 5% from all time high, and line is made at the candles high, and conversely when a candle crosses above 50% from it's previous all time high a line is placed at its low.
Bar coloring, the % being crossed, and extreme background color are included, as are alerts for each signal.
This script attempts to inform trading decisions/sentiment via drawdown (percent) from all time high. Any fan of fibonacci should find this useful.
All time high is essentially checked and the script adapts to new/broken all time highs. The plot shapes and signals are based on the candle closes below these common percents from all time high. Use the signals at your own discretion.
Lines and styling are placed at the further extremes of the common % candles. For example, for "Tops", when candles cross under 5% from all time high, and line is made at the candles high, and conversely when a candle crosses above 50% from it's previous all time high a line is placed at its low.
Bar coloring, the % being crossed, and extreme background color are included, as are alerts for each signal.
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Removed extraneous inputs. Style edit
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Updated candle resolution variable resolution & location
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Removed common simultaneous signal. Changed default resolution
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Included Horizontals and options for all time high, 50% from all time high, and all time low. Labels not included, not yet at least.
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Included labels. Color and style options.
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Typos, styling, and added the ability to turn off the drawdown % plotshapes.
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Added 61.8% retracement from ATH. Added one more level for background color of extensive dradown and styling.
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Added 25% drawdown from ATH. Cleaned and organized input options.
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Major update. Added option to base plotshapes and metrics from observed chart, spot chart , BTC pair and to Eth pair respectively. I've also added two projected drawdown plots and labels that show the price of the asset at user input value drawdown %. There is also included a background color correlated to BTC draw down from all time high
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Added another projection band, and also included a somewhat useless resistance projection option. Label %'s have been added, as well as ATH and ATL prices. BTC pairs, unfortunately, don't currently show detail if price is low and with many decimals.
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Differentiated styling and plots. Added background coloring and plotshapes optional for SOPR levels. Fixed conflated variables. Added BTFD/GTFO plotshapes for more likely macro HTF tops and bottoms for confluence. Added alerts for for aforementioned.
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Added band for tradFi drawdowns. Edited booleans for percent values. Altered gradient. Data will also no longer show below the daily time frame to avoid false top/bottom references.