Webby % Off 52 Week

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

版本注释

Update now includes option to see ATRs off the high.

版本注释

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

50 day high
18 month high

版本注释

Option to change the ATR length

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.

版本注释

Typo fix for the pine screener columns