OPEN-SOURCE SCRIPT
52-Week High Percentage Bands
General price band indicator for momentum trading:
How to use the code
Open TradingView and navigate to a chart.
Click the "Pine Editor" tab at the bottom of your screen.
Delete any existing code in the editor window.
Copy and paste the Pine Script code provided above into the Pine Editor.
Click "Add to Chart" to apply the indicator.
How the code works
indicator("52-Week High Percentage Bands", overlay=true): This line names the indicator and tells TradingView to plot it directly on the price chart.
request.security(syminfo.tickerid, "D", ta.highest(high, lookbackPeriod)): This is the most critical part. It fetches the highest price from the daily timeframe over the last 365 days. This ensures accuracy even if your chart is set to a different timeframe (e.g., 4-hour or weekly).
upperBand and lowerBand: These variables calculate the specific price levels for the 10% and 23% bands by multiplying the 52-week high by 0.90 and 0.77, respectively.
plot(): This function draws the horizontal lines on the chart for each band.
fill(): This function takes two plots as arguments and colors the space between them to create the "band" effect.
highestHigh: This optional plot adds a line to show you the exact 52-week high.
How to use the code
Open TradingView and navigate to a chart.
Click the "Pine Editor" tab at the bottom of your screen.
Delete any existing code in the editor window.
Copy and paste the Pine Script code provided above into the Pine Editor.
Click "Add to Chart" to apply the indicator.
How the code works
indicator("52-Week High Percentage Bands", overlay=true): This line names the indicator and tells TradingView to plot it directly on the price chart.
request.security(syminfo.tickerid, "D", ta.highest(high, lookbackPeriod)): This is the most critical part. It fetches the highest price from the daily timeframe over the last 365 days. This ensures accuracy even if your chart is set to a different timeframe (e.g., 4-hour or weekly).
upperBand and lowerBand: These variables calculate the specific price levels for the 10% and 23% bands by multiplying the 52-week high by 0.90 and 0.77, respectively.
plot(): This function draws the horizontal lines on the chart for each band.
fill(): This function takes two plots as arguments and colors the space between them to create the "band" effect.
highestHigh: This optional plot adds a line to show you the exact 52-week high.
Skrip sumber terbuka
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.
Penafian
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.
Skrip sumber terbuka
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.
Penafian
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.