OPEN-SOURCE SCRIPT
Price Bands Script
This Pine Script indicator visually marks customizable percentage bands below the 52-week high of a security, even if historical data is limited.
• It calculates the highest price over the past 365 days or all available daily bars (whichever is less), ensuring compatibility with new or illiquid securities.
• The user can set two band levels as percentages below the 52-week high from the indicator settings.
• These bands are plotted as horizontal lines, and the area between them is shaded for easy visualization.
• The actual 52-week high is also plotted as a reference line.
• This helps traders identify meaningful pullback zones relative to the yearly high and adapt those levels to different strategies or market conditions
• It calculates the highest price over the past 365 days or all available daily bars (whichever is less), ensuring compatibility with new or illiquid securities.
• The user can set two band levels as percentages below the 52-week high from the indicator settings.
• These bands are plotted as horizontal lines, and the area between them is shaded for easy visualization.
• The actual 52-week high is also plotted as a reference line.
• This helps traders identify meaningful pullback zones relative to the yearly high and adapt those levels to different strategies or market conditions
نص برمجي مفتوح المصدر
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
إخلاء المسؤولية
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
نص برمجي مفتوح المصدر
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
إخلاء المسؤولية
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.