52-Week High 115/70/52

// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © TrendLab - Generated from Strategy Artifact

//@version=6
strategy("52-Week High 115/70/52", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=100, initial_capital=100000, commission_type=strategy.commission.percent, commission_value=0.1, slippage=1)

// =============================================================================
// INPUTS
// =============================================================================
lookbackPeriod = input.int(115, "Lookback Period", minval=1)
entryPct = input.float(70.0, "Entry Threshold %", minval=1, maxval=100) / 100
exitPct = input.float(52.0, "Exit Threshold %", minval=1, maxval=100) / 100

// =============================================================================
// INDICATOR CALCULATION
// =============================================================================
// Calculate the highest high over the lookback period
periodHigh = ta.highest(high, lookbackPeriod)

// Calculate entry and exit thresholds
entryThreshold = periodHigh * entryPct
exitThreshold = periodHigh * exitPct

// =============================================================================
// STRATEGY LOGIC
// =============================================================================
// Entry: Close >= 70% of the 115-day period high
// This means: enter when price is within 30% of its recent high (showing strength)
entryCondition = close >= entryThreshold

// Exit: Close < 52% of the 115-day period high
// This means: exit when price has dropped more than 48% from its recent high
exitCondition = close < exitThreshold

// Position management
isFlat = strategy.position_size == 0
isLong = strategy.position_size > 0

if entryCondition and isFlat
    strategy.entry("Long", strategy.long)

if exitCondition and isLong
    strategy.close("Long")

// =============================================================================
// PLOTTING
// =============================================================================
// Plot the period high and thresholds
plot(periodHigh, "Period High", color=color.blue, linewidth=1)
plot(entryThreshold, "Entry Threshold (70%)", color=color.green, linewidth=1, style=plot.style_stepline)
plot(exitThreshold, "Exit Threshold (52%)", color=color.red, linewidth=1, style=plot.style_stepline)

// Fill between thresholds for visual clarity
fill(plot(entryThreshold, display=display.none), plot(exitThreshold, display=display.none), color=color.new(color.yellow, 90))

// Plot entry/exit signals
plotshape(entryCondition and isFlat, "Entry Signal", shape.triangleup, location.belowbar, color.green, size=size.small)
plotshape(exitCondition and isLong, "Exit Signal", shape.triangledown, location.abovebar, color.red, size=size.small)