Drawdown Visualisation

█ OVERVIEW
The Drawdown Visualisation indicator calculates and displays the instrument’s drawdown (in percent) relative to its all‐time high (ATH) from a user‐defined start date. It provides customisable options for label appearance, threshold lines (0%, –50%, –100%), and can plot historic drawdown levels via pivot detection.


█ USAGE
This indicator should be used with the Percentage Retracement from ATH indicator.


█ KEY FEATURES

• Custom Date Settings — Use a custom start date so that only specified price action is considered.
  
• Retracement Level Calculation — Determines ATH and computes multiple retracement levels using percentages from 0% to –100%.
  
• Visual Signals and Customisation — Plots configurable horizontal lines and labels that display retracement percentages and prices.
  
• Time Filtering — Bases calculations on data from the desired time period.
  Historic Drawdowns — Display historical drawdowns

█ PURPOSE

• Assist traders in visualising the depth of price retracements from recent or historical peaks.
  
• Identify critical zones where the market may find support or resistance after reaching an ATH.
  
• Facilitate more informed entry and exit decisions by clearly demarcating retracement levels on the chart.
  

█ IDEAL USERS

• Swing Traders — Looking to exploit pullbacks following strong upward moves.
  
• Technical Analysts — Interested in pinpointing key retracement levels as potential reversal or continuation points.
  
• Price Action Traders — Focused on the nuances of market peaks and subsequent corrections.
  
• Strategy Developers — Keen to backtest and refine approaches centred on retracement dynamics.