OPEN-SOURCE SCRIPT
Updated Price Target Pullback Correction or Bear
Price Target percent drop is an indicator that allows you to set default percentage down from the 52 week high.
A pullback, correction, bear and a bear market is marked as a 5%, 10%, 20% or 40% drop from the 52 week highest price, so this will show the target price to buy at if these thresholds are hit.
You can change the default values of 5%, 10%, 20% and 40% to any percentage and the price will reflect the change of the default value. Furthermore, the default to use 52 weeks can be changed to find the highest price from the last 26 weeks or 104 weeks.
A pullback, correction, bear and a bear market is marked as a 5%, 10%, 20% or 40% drop from the 52 week highest price, so this will show the target price to buy at if these thresholds are hit.
You can change the default values of 5%, 10%, 20% and 40% to any percentage and the price will reflect the change of the default value. Furthermore, the default to use 52 weeks can be changed to find the highest price from the last 26 weeks or 104 weeks.
Release Notes
Added option to choose how many bars to use to find highest priceRelease Notes
Added 4 more price targetsLast 5 price targets can be removed by setting percentage to 0
Release Notes
Converted the script to version 6 from 5Release Notes
Updated script to make use of methods and functionsRelease Notes
Updates made:- removed the prices at the end of the line. Price is shown on the top left
- Added how many percent the stock is down from the 52-week high, the 52-week high can be modified by the user.
- Changed the bars' colors to make them easier to see.
Release Notes
Updated description:Price Target percent drop is an indicator that allows you to set default percentage down from the 52 week high.
A pullback, correction, bear and a bear market is marked as a 5%, 10%, 20% or 40% drop from the 52 week highest price, so this will show the target price to buy at if these thresholds are hit.
You can change the default values of 5%, 10%, 20% and 40% to any percentage and the price will reflect the change in the default value. An additional 4 percentages are available for you to use. Furthermore, the default to use 52 weeks, 200 bars, can be changed to find the highest price from the last 26 weeks or 104 weeks.
The percent down from the most current 52-week high will be shown as a percentage down on the chart to see you how much the current price is down from the most recent high price.
Updates made:
- Added Percent down to the chart
- Did some housekeeping on the code to take advantage of the other features available in Pinescript version 6
- Cleaned up the code
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.