OPEN-SOURCE SCRIPT
PTST – Distance from 66-Day Low
This simple yet powerful indicator shows how far the current price is from the lowest low of the last 66 trading days, expressed as a percentage.
🔍 Why use this?
• Identify overextended downtrends or potential bounce zones
• Spot stocks forming major bottoms
• Use it as a mean-reversion or strength filter
✅ Features
• Customizable lookback (default: 66 days)
• Clean, clutter-free plot
• Works on any timeframe and asset
🔍 Why use this?
• Identify overextended downtrends or potential bounce zones
• Spot stocks forming major bottoms
• Use it as a mean-reversion or strength filter
✅ Features
• Customizable lookback (default: 66 days)
• Clean, clutter-free plot
• Works on any timeframe and asset
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.