Webby % Off 52 Week

2023년 7월 1일

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

2024년 4월 20일

릴리즈 노트

Update now includes option to see ATRs off the high.

2024년 4월 20일

릴리즈 노트

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

• 50 day high
  
• 18 month high
  

2024년 5월 1일

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Option to change the ATR length

2024년 6월 21일

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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.

3월 14일

릴리즈 노트

Typo fix for the pine screener columns