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Indicator · Pine Script v6 · Own pane
Webby's ATR Off 52-Week High
This indicator measures how far the current low sits below the highest high of the last 252 bars, expressed in 50-period ATR units and plotted as a negative value capped at 12.
GitHub stars1on the repository
Pine versionv6current
Lines of code21
Settings0inputs
LicenceMPL-2.0
Last update8 weeks ago30 Aug 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
21 lines of Pine Script v6 from indicators/WebbyPctOff52WkHigh.pine, published under MPL-2.0. Keep the author's credit and licence lines when you reuse it.
// This Pine Script® code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © peterdmv
//
// Recreation of Webby's ATR Off 52-Week High indicator (Mike Webster, IBD/O'Neil). Reimplemented for educational purposes.
//
// Release: v1
//@version=6
indicator("Webby's ATR Off 52-Week High", shorttitle="ATR Off 52W", overlay=false)
high52 = ta.highest(high, 252)
atr_off = -math.min((high52 - low) / ta.atr(50), 12)
line_color = atr_off >= -4 ? color.green : atr_off >= -8 ? color.yellow : color.red
plot(atr_off, title="ATR Off 52W High", color=line_color, linewidth=2)
hline(0, "52W High", color=color.new(color.gray, 60), linestyle=hline.style_dotted)
hline(-4, "Green Zone Floor", color=color.green, linestyle=hline.style_dashed)
hline(-8, "Yellow Zone Floor", color=color.yellow, linestyle=hline.style_dashed)
hline(-12, "Red Zone Floor", color=color.red, linestyle=hline.style_dashed)
Overview
Webby's ATR Off 52-Week High draws that distance in a separate pane and colors the line green, yellow, or red using fixed thresholds at four, eight, and twelve ATR. Dashed horizontal lines mark zero and each zone floor. There are no user inputs, trade entries, or exit rules. The 252-bar lookback represents about one trading year of bars.
- 252-bar high as the 52-week reference
- Distance from that high in 50-period ATR
- Green, yellow, and red zone coloring
- Cap of 12 ATR on the plotted value
- Dashed lines at 0, -4, -8, and -12
Details
Published by
peterdmv on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Volatility & bands, Support & resistance
Markets
Stocks
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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