How to show a 15% pullback from High of day Price?


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Hey Pete, Im lost on coding this and need your help.

 

#First condition – stock must have spiked over 60% on the day

Condition= the %change from yesterdays close to todays HOD must be greater than 60%

 

Next, if the stocks pulls back more than 15% from its (Intraday HOD) Aka prints a close price less% below HOD price after the HOD……

#PullbackShowBubble

Then plot a RED chart bubble on the current candles close called “15% pullback”

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Posted by Ak40 Steven (Questions: 7, Answers: 3)
Asked on December 15, 2020 2:56 pm
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It would have been very good if y0u had included an example that I could use for testing. Very tough to find stocks that match this pattern.

Here is the code I believe will work as requested. I have no idea whether it does.

input percentGain = 60.0;
input percentRetrace = 15.0;
plot priorDayClose = close(period = AggregationPeriod.DAY)[1];
priorDayClose.SetDefaultColor(Color.GRAY);
priorDayClose.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
def newDay = GetDay() <> GetDay()[1];
rec trackHighOfDay = if newDay then high else if high > trackHighOfDay[1] then high else trackHighOfDay[1];
plot highOfDay = trackHighOfDay;
highOfDay.SetDefaultColor(Color.CYAN);
highOfDay.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
def gain = 100 * (high / priorDayClose - 1);
def retrace = 100 * (close / highOfDay - 1);
rec hasRetraced = if newDay then 0 else if gain > percentGain and retrace < -percentRetrace then 1 else hasRetraced[1]; def signal = hasRetraced and !hasRetraced[1]; AddChartBubble(signal, low, Concat(percentRetrace, "% Pullback"), Color.RED, no);

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Posted by Pete Hahn (Questions: 37, Answers: 4153)
Answered on December 15, 2020 4:04 pm
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Sorry, U rock !!! I will test and provide examples. One example today was $ANCN today
(Ak40 Steven at December 15, 2020 4:23 pm)
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Yep, that example was absolutely essential. I tested the code against that and immediately identified a problem that need to be adjusted. I have updated the code in my answer to correct the error. You will need to copy this code and replace what you had copied before my correction.
(Pete Hahn at December 15, 2020 5:10 pm)
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Its almost perfect, but the value should not factor in premarket high. Only the High of day after 9:30 am. Another example is EDSA on July 30 2020. It shows on the 5 minute but doesn’t show on the 1 minute chart after the drop from HOD I also noticed on IMRN on 6/12/20 its is grapping many highs. ***CODE should only grab the highest high of day please.***
(Ak40 Steven at December 15, 2020 8:19 pm)
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Sorry, this solution is the most I can provide for no charge in the Q&A Forum. This code requires that you set the chart to not included extended hours session. In order to provide a solution that works with extended hours session requires much more complexity.
(Pete Hahn at December 15, 2020 9:59 pm)