PROTECTED SOURCE SCRIPT
100% Daily Gain Levels
Updated
This script takes the previous days closing value and calculates the current 100%, 200%, 300% and 400% levels for that stock.
Using that information it draws a dotted persistent line (with labels on the far right) at those levels. This information can be useful as it can then, at times, act as a support/resistance for momentum stocks. So when a stock runs 100% and holds that level, historically, that stock has a good chance to continue rising. Same when hitting additional "100%" ranges.
The user has the option to deselect the labels and/or lines.
If people find this useful then I can work on adding options that allow users more freedom to adjust how the lines are displayed as well as some enhancements to the display.
Using that information it draws a dotted persistent line (with labels on the far right) at those levels. This information can be useful as it can then, at times, act as a support/resistance for momentum stocks. So when a stock runs 100% and holds that level, historically, that stock has a good chance to continue rising. Same when hitting additional "100%" ranges.
The user has the option to deselect the labels and/or lines.
If people find this useful then I can work on adding options that allow users more freedom to adjust how the lines are displayed as well as some enhancements to the display.
Release Notes
Made a minor update to reach up to 1000% and slightly adjusted the different 100% levels. Release Notes
Added an additional yellow dotted line at the 125% level mark as this level can help indicate continuation or add a support area.Disclaimer
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