OPEN-SOURCE SCRIPT
Zen ATH Bands v1
## **Zen ATH Bands**
This indicator plots horizontal drawdown levels projected into the right-hand margin. It calculates percentage drops from a selected anchor point (ATH or Current Price) to identify key price levels.
### **Technical Features**
* **Dynamic ATH Tracking:** Automatically calculates the highest high in the chart's history without lookback limitations.
* **Non-Invasive Plotting:** Uses right-extended lines and labels to keep the price action history unobstructed.
* **Performance Optimized:** Only renders on the most recent bar to ensure zero impact on chart loading speeds.
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### **Custom Options Explained**
#### **1. Reference (refMode)**
* **Option 1 (ATH):** Sets the anchor to the highest high ever recorded on the chart. All percentage bands are calculated as drops from this peak.
* **Option 0 (Last Price):** Sets the anchor to the current closing price. Useful for visualizing potential downside risk from the current market value.
#### **2. Right Offset (bars)**
* **Purpose:** Sets the horizontal distance between the current candle and the level labels.
* **Usage:** Increase this value (e.g., 50 or 100) if you use a wide chart layout or decrease it if you prefer labels closer to the price action.
#### **3. Percentage Band Toggles**
* **Included Tiers:** 2.5%, 5%, 10%, 15%, 20%, 25%, and 30%.
* **Function:** Each level can be individually enabled or disabled via checkboxes.
#### **4. Color Inputs**
* **Customization:** Each band has a dedicated color picker. This allows for high-contrast visibility regardless of whether you use a light or dark chart theme.
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### **Indicator Inputs Table**
| Input Label | Default Value | Function |
| --- | --- | --- |
| **Reference** | 1 (ATH) | Toggle between All-Time High or Current Close as the calculation base. |
| **Right Offset** | 30 | Moves text labels X bars into the future margin. |
| **Show [X]%** | Enabled | Boolean toggle to show or hide specific percentage lines. |
| **[X]% Color** | Varies | Defines the color for the specific line and label. |
This indicator plots horizontal drawdown levels projected into the right-hand margin. It calculates percentage drops from a selected anchor point (ATH or Current Price) to identify key price levels.
### **Technical Features**
* **Dynamic ATH Tracking:** Automatically calculates the highest high in the chart's history without lookback limitations.
* **Non-Invasive Plotting:** Uses right-extended lines and labels to keep the price action history unobstructed.
* **Performance Optimized:** Only renders on the most recent bar to ensure zero impact on chart loading speeds.
---
### **Custom Options Explained**
#### **1. Reference (refMode)**
* **Option 1 (ATH):** Sets the anchor to the highest high ever recorded on the chart. All percentage bands are calculated as drops from this peak.
* **Option 0 (Last Price):** Sets the anchor to the current closing price. Useful for visualizing potential downside risk from the current market value.
#### **2. Right Offset (bars)**
* **Purpose:** Sets the horizontal distance between the current candle and the level labels.
* **Usage:** Increase this value (e.g., 50 or 100) if you use a wide chart layout or decrease it if you prefer labels closer to the price action.
#### **3. Percentage Band Toggles**
* **Included Tiers:** 2.5%, 5%, 10%, 15%, 20%, 25%, and 30%.
* **Function:** Each level can be individually enabled or disabled via checkboxes.
#### **4. Color Inputs**
* **Customization:** Each band has a dedicated color picker. This allows for high-contrast visibility regardless of whether you use a light or dark chart theme.
---
### **Indicator Inputs Table**
| Input Label | Default Value | Function |
| --- | --- | --- |
| **Reference** | 1 (ATH) | Toggle between All-Time High or Current Close as the calculation base. |
| **Right Offset** | 30 | Moves text labels X bars into the future margin. |
| **Show [X]%** | Enabled | Boolean toggle to show or hide specific percentage lines. |
| **[X]% Color** | Varies | Defines the color for the specific line and label. |
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.