Price Target Pullback Correction or Bear

22 Jan 2022

Price Target percent drop is an indicator that allows you to set default percentage down from the 52 week high.

A pullback, correction, bear and a bear market is marked as a 5%, 10%, 20% or 40% drop from the 52 week highest price, so this will show the target price to buy at if these thresholds are hit.

You can change the default values of 5%, 10%, 20% and 40% to any percentage and the price will reflect the change of the default value. Furthermore, the default to use 52 weeks can be changed to find the highest price from the last 26 weeks or 104 weeks.

22 Jan 2022

Nota Keluaran

Added option to choose how many bars to use to find highest price

25 Jan 2022

Nota Keluaran

Added 4 more price targets
Last 5 price targets can be removed by setting percentage to 0

1 Jan

Nota Keluaran

Converted the script to version 6 from 5

3 Jan

Nota Keluaran

Updated script to make use of methods and functions

19 Jan

Nota Keluaran

Updates made:
- removed the prices at the end of the line. Price is shown on the top left
- Added how many percent the stock is down from the 52-week high, the 52-week high can be modified by the user.
- Changed the bars' colors to make them easier to see.

17 Feb

Nota Keluaran

Updated description:
Price Target percent drop is an indicator that allows you to set default percentage down from the 52 week high.

A pullback, correction, bear and a bear market is marked as a 5%, 10%, 20% or 40% drop from the 52 week highest price, so this will show the target price to buy at if these thresholds are hit.

You can change the default values of 5%, 10%, 20% and 40% to any percentage and the price will reflect the change in the default value. An additional 4 percentages are available for you to use. Furthermore, the default to use 52 weeks, 200 bars, can be changed to find the highest price from the last 26 weeks or 104 weeks.

The percent down from the most current 52-week high will be shown as a percentage down on the chart to see you how much the current price is down from the most recent high price.

Updates made:
- Added Percent down to the chart
- Did some housekeeping on the code to take advantage of the other features available in Pinescript version 6
- Cleaned up the code