10% Monthly Close DrawDown Trigger
Plot the current 10% drawdown from recent peak monthly closes (meant as a safety stop loss exit point, if week or month closes below the 10% drawdown level). Also show the current 6month and 200d SMA lines, which can be used as a re-entry point. Meant to be used with S&P500.
Notes de version:
commenting, updated example plot view
Notes de version:
Plot SMA roughly equivalent to 200 day for Week or Month charts, hide the line if the chart is intraday.
Corrected the 6M SMA to use current month's last daily close, and update the drawdown line only after a full month close.
Corrected the 6M SMA to use current month's last daily close, and update the drawdown line only after a full month close.
Notes de version:
Added 13 week EMA & SMA lines, potential weekly re-entry criteria