Webby % Off 52 Week

2023年7月1日

This indicator measures a stocks distance from its 52 week high. The concept is based on what Mike Webster shared on his appearance on IBD Live, allowing users to see if a current pullback from the highs is normal compared to historical pullbacks or if more attention is warranted.

It is also important to pay attention to a stocks 52 week high in relation to it's current price to confirm trend, spot potential breakout levels or see if the high acts as an area of resistance.

The indicator has 3 different zones with shaded backgrounds to easily spot the distance off of the high.

Zones

• Green Zone - 0 to 8% off highs
  
• Yellow Zone - 8 to 15% off highs
  
• Red Zone - 15 to 25% off highs
  

Similar Healthy Pullbacks


Possible concern as pullback undercuts previous pullback level

2024年4月20日

版本注释

Update now includes option to see ATRs off the high.

2024年4月20日

版本注释

Update includes the % or ATR off of two additional highs.

• 50 day high
  
• 18 month high
  

2024年5月1日

版本注释

Option to change the ATR length

2024年6月21日

版本注释

The user can select the source for the measurement. For example, if "low" is selected, the measurement will show the distance from the bar's low to the highs. If "close" is selected, it will measure the distance from the bar's close to the highs.

3月14日

版本注释

Typo fix for the pine screener columns