PROTECTED SOURCE SCRIPT
Days Without -x% Move (Within x Days)
Days Without X% Move
This indicator tracks consecutive days without a significant price drop, helping traders monitor market stability and potential risk buildup.
How It Works:
- Monitors a rolling window (default: 3 days) for the maximum drawdown
- Resets the counter when price drops by the specified percentage (default: 15%)
- Counts consecutive days where the threshold hasn't been breached
- Higher values indicate extended periods without significant corrections
Key Features:
- Configurable Drop Threshold: Set the percentage drop that resets the counter
- Adjustable Window: Define the lookback period for measuring drawdowns
- Wick Analysis: Option to include or exclude wicks in calculations
- Visual Display: Red area plot shows the current streak length
Use Cases:
- Risk management: Identify when markets are "overdue" for a correction
- Market regime analysis: Compare calm vs volatile periods
- Position sizing: Adjust exposure based on streak length
- Entry timing: Higher streak values may indicate increased correction risk
This indicator tracks consecutive days without a significant price drop, helping traders monitor market stability and potential risk buildup.
How It Works:
- Monitors a rolling window (default: 3 days) for the maximum drawdown
- Resets the counter when price drops by the specified percentage (default: 15%)
- Counts consecutive days where the threshold hasn't been breached
- Higher values indicate extended periods without significant corrections
Key Features:
- Configurable Drop Threshold: Set the percentage drop that resets the counter
- Adjustable Window: Define the lookback period for measuring drawdowns
- Wick Analysis: Option to include or exclude wicks in calculations
- Visual Display: Red area plot shows the current streak length
Use Cases:
- Risk management: Identify when markets are "overdue" for a correction
- Market regime analysis: Compare calm vs volatile periods
- Position sizing: Adjust exposure based on streak length
- Entry timing: Higher streak values may indicate increased correction risk
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.