OPEN-SOURCE SCRIPT
Price Down from Monthly High (%)
//version=5
indicator("Price Down from Monthly High (%)", overlay=true)
// Get the highest price of the current month
monthlyHigh = request.security(syminfo.tickerid, "M", high)
// Calculate the percentage price down from the monthly high
percentageDown = ((monthlyHigh - close) / monthlyHigh) * 100
// Plot the percentage down from the monthly high
plot(percentageDown, color=color.red, title="Percentage Down from Monthly High", linewidth=2)
indicator("Price Down from Monthly High (%)", overlay=true)
// Get the highest price of the current month
monthlyHigh = request.security(syminfo.tickerid, "M", high)
// Calculate the percentage price down from the monthly high
percentageDown = ((monthlyHigh - close) / monthlyHigh) * 100
// Plot the percentage down from the monthly high
plot(percentageDown, color=color.red, title="Percentage Down from Monthly High", linewidth=2)
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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