Drawdown Tracker [SpokoStocks]Drawdown Tracker
The Drawdown Tracker is a powerful tool designed to help traders monitor and visualize the drawdown of symbol. By tracking both current and maximum drawdown levels, this indicator provides valuable insights into risk and potential capital preservation.
Features:
> Current Drawdown:
The current drawdown is calculated as the percentage drop from the record high to the current low, providing a real-time view of the loss from the peak.
> Maximum Drawdown:
The maximum drawdown represents the deepest drop observed from any peak in the historical data, giving an understanding of the worst-case scenario for losses.
> You can choose between two modes:
Full History: Tracks the maximum drawdown from the entire available data.
Rolling Period: Tracks the maximum drawdown within a defined rolling period (default 50 bars), allowing for a shorter-term risk assessment.
> Customizable Rolling Period:
You can adjust the rolling period length through the Rolling Period Length input to reflect different time frames for drawdown calculations.
> Warning Level:
A customizable warning level (default -65%) is plotted on the chart. This acts as a threshold to alert users when the drawdown crosses into a potentially concerning territory.
> Gradient Color Visualization:
The current drawdown is visualized using a gradient color, transitioning from red to yellow as the drawdown increases from -100% to 0%, providing an easy-to-interpret view of the severity of the drawdown.
> New Max Drawdown Marker:
Whenever a new maximum drawdown is recorded, a triangle marker is displayed at the bottom of the chart, along with a label showing the drawdown percentage. This provides clear visual confirmation when a new historical low is reached.
> Alerts:
Warning Level Breach Alert: Alerts you when the drawdown breaches the warning level you’ve set, helping you stay aware of significant risk events.
New Max Drawdown Alert: Triggers when a new maximum drawdown is recorded, allowing you to act quickly if necessary.
Use Cases:
Risk Management: Keep track of how much an asset is down from the peak, helping you make informed decisions about risk and drawdown tolerances.
Risk Disclaimer:
The information provided by this script is for educational and informational purposes only. It is not intended as financial advice and should not be construed as such. All trading and investment activities involve a high level of risk and may result in the loss of capital. The user is solely responsible for any decisions made based on the content provided by this script.
By using this script, you acknowledge and agree that you use it at your own risk. The creator of this script makes no warranties regarding the accuracy, completeness, or reliability of the information, and disclaims any responsibility for any losses or damages arising from its use.
Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Drawdowns
Live PnL v1.0Live P&L for multiple stocks, currencies, crypto and commodities can now be tracked for your favorite scripts, pair trading etc.
This indicator gives provision to add up to 3 stocks/futures/currency with Buy and Sell, Quantity (can be lot size or any other) and Entry Price and set as default so that every time you put back this indicator you can monitor the live Profit / Loss figure.
This indicator will help trade to evaluate and track tips/trades of experts on social media and Media platforms and check their accuracy themselves in an organized way.
Apart from paper trading a trade or multiple positions ones combined together it also gives a feeler of combined Mark to live Market Drawdowns or Profitability.
