––––History & Credit I wanted to show our community the idea that stocks that make All Time High [ATH] are likely to continue making ATHs for some time. It goes contrary to the idea "buy cheap sell high". Actually, in the real market leaders the stocks that make 100+% return are just getting started on returns to few THOUSAND percent. I have used code from QuantNovad scrip in this one too. So thanks to him as well, since it speeded writing it from scratch!
–––––What it does The script paints dots and shows stats. The dots are 4 types: 🟢 = Every time a new ATH is achieved, a green dot paints above the bar 🟣 = Every time a new 52week High is achieved, a purple dot paints above the bar 🟡 = Every time a new ATL is achieved, a yellow dot paints below the bar 🟠 = Every time a new 52week Low is achieved, a orange dot paints below the bar
Stats = Show in a box in the bottom right corner of the screen. How many times has this stock achieved: 👉 ATHs 👉 52WK High 👉 ATLs 👉 52WK LOW
–––––How to use it This is really an illustrative script to get the idea of the methodology "buy high sell higher', that we teach as momentum traders. Some notable examples to check are: HOOD MSFT TSLA AAPL See the stock dynamics and understand that bottom fishing doesn't result in stocks making massive moves.
Release Notes
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-> The script now plots the 52WK high independently from the timeframe you use. So you can plot the indicator on lower timeframes.
Awesome - I need a screener to show me all stocks approaching ATH. I only want those that have rested (stayed below ATH) for >= 3 months.
makkudanthai
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Great Indicator Thanks, I have an observation how come 52WH enabled within 2 to 3 days falling from an ATH. An ATH will be 52WH at least for the next 52W if it is not breached.
NarayanaRao
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Really a beautifull indicator, Thank you
greatcyan
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Is there a way to automate to plot the 52W ATH values when using daily or lower timeframes?
TintinTrading
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@greatcyan, just updated - tell me if this is what you had in mind :)