Death Cross Max Drop % (Near DC)

This indicator identifies Death Cross events (when the 100-period SMA crosses below the 200-period SMA) and tracks the subsequent price decline until a Golden Cross (100-period SMA crosses above the 200-period SMA) signals a potential reversal or end of that downtrend phase.

For each completed Death Cross to Golden Cross cycle, the script calculates the maximum percentage drop from the closing price at the Death Cross to the lowest low price reached before the subsequent Golden Cross.

This maximum percentage drop is then displayed as a text label on the chart. The label is strategically positioned near the bar where the Death Cross originally occurred, offering a historical measure of the decline during that specific cycle. The tooltip for the label provides further details, including the price at the Death Cross, the lowest low reached, and the calculated maximum percentage drop.

Additionally, the indicator plots the 100-period and 200-period SMAs and visually marks Death Cross events on the chart with a downward-pointing red triangle. Users can customize the lengths of the SMAs and the price source (e.g., close, open) used for the calculations.

Key Features:

Calculates the maximum percentage drop from a Death Cross to the lowest low before the next Golden Cross.
Displays the result as a label (with a downward arrow style) positioned near the original Death Cross bar.
Plots SMA 100 and SMA 200.
Marks Death Cross events with a red triangle pointing down.
Configurable SMA lengths and price source.