CandelaCharts - ATH Drawdown

📝 Overview

Track how far price is from its All-Time High (ATH) at any moment. This tool plots the percentage drawdown since the running ATH, so you instantly see whether the market is near peak (≈0%) or deep in a cycle reset (e.g., −60% to −80%). It’s designed for cycle analysis, risk framing, DCA planning, and spotting “capitulation” zones across any symbol or timeframe.

📦 Features

• True ATH drawdown% — 0% at ATH; negative values show distance below ATH.
  
• Price source switch — choose Close or High (wick-based ATH).
  
• Optional smoothing — EMA on drawdown% for cleaner cycles.
  
• Color-coded risk bands — green → yellow → orange → red → maroon as drawdown deepens.
  
• Milestone gridlines — quick read at −20/−40/−60/−80%.
  
• Inline readout — compact table shows the latest drawdown%.
  
• Ready-made alert — notify when drawdown enters the classic −70% to −80% zone.
  

⚙️ Settings

• Price — [code]Close[/code] or [code]High[/code] for ATH calculation (wicks vs closes).
  Smoothing — EMA length on drawdown% (0 = off).
  Show grid lines — level guides at −20/−40/−60/−80%.
  Alert 70–80% — enable alert when drawdown is between −70% and −80%.
  Show latest ATH drawdown % — table readout in the chart.
  

⚡️ Showcase

Contextualize cycle risk: near 0% = late-cycle/expansion; sub −60% = deep retrace.


📒 Usage

• Add to any symbol/timeframe.
  
• Pick Price source (Close or High) to match your methodology.
  
• (Optional) Set Smoothing to clarify bigger cycles.
  
• Use color bands & gridlines to define risk buckets (e.g., “accumulate < −60%”).
  
• Watch the table for the current drawdown at a glance.
  

🚨 Alerts

The indicator provides configurable alerts that turn drawdown bands into actionable signals.

Drawdown between 70% and 80% — fires when drawdown enters the −70%…−80% band; ideal for “capitulation zone” notifications.

⚠️ Disclaimer

These tools are exclusively available on the TradingView platform.

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