Anchored ATH Drawdown Levels

The Anchored ATH Drawdown Levels plots horizontal lines from a chosen anchor price (ATH), showing potential pullback zones at set percentage drops below it.

This indicator's use lies in its anchored ATH framework, which rapidly visualizes precise drawdown levels as dynamic levels of interest or price targets enabling traders to anticipate pullback depths and potential reversal levels without manual calculations.

Pick "True ATH" for the all-time high or "Period ATH" for anchored highs reset weekly, monthly, or quarterly. Lines stretch right for a cleaner visual.


Key Features

• Anchoring: True ATH (lifetime max) or Period ATH (resets on 1W/1M/3M intervals).
  
• Drawdown Levels: 8 adjustable levels (defaults: -5%, -10%, -15%, -20% on; -25% to -50% off). Toggle each, set drop % (0.1-99.9), pick color, style (solid/dashed/dotted), width (1-3).
  
• ATH Line: Optional ATH line with custom color, style, width.
  
• Unified Look: Global overrides for all levels' color, style, width.
  
• Labels: Show % drops (with/without prices) via text boxes or full tags; sizes from tiny to large.
  
• Projection: Lines extend 5-100 bars right (default 20).
  

Settings

• Anchor: Mode and timeframe.
  
• Display: Toggle levels/ATH, set extension.
  
• Labels: Style (text/full/none), size, price display.
  
• Global/ATH/Levels: Colors, styles, widths (per-level or shared).
  

How to Use

• Load on chart (overlays prices; handles up to 500 lines).
  
• Choose anchor for your high.
  
• Tune levels for key pullbacks (e.g., -5% minor, -20% major).
  
• Customize visuals where the lines update on new peaks.