Utility for managing active labels on the chart.
add(level, txt, labelColor, textColor) For displaying a lable at the last bar.
level : The value to display the label at.
txt : The text to show on the label.
labelColor : The color of the label.
textColor : The text color of the label.
Use this script to see the depths of corrections and also to see how long it has been since a correction.
I published this script because the last time the SNP has gone this long without a 5% correction was 1996 excluding bear markets of course.
NOTE: This script is a 2 in 1. In order to see correction depth only use the first 3 plot settings as...