Highest Single-Day Percentage Change (Close to Close)

22 oct

This Pine Script is designed to calculate and display the largest percentage change in stock price between consecutive days' closing prices. Here's a high-level breakdown of what the script does:

Daily Percentage Change Calculation:
It calculates how much the stock price changed from the previous day's close to the current day's close. The change is expressed as a percentage of the previous day's closing price.

Tracking the Highest Change:
The script keeps track of the largest percentage increase or decrease it has encountered in the dataset (from previous close to current close). It updates the value if a new day exceeds the current largest recorded percentage change.

Visual Representation:
The daily percentage changes are plotted as a line graph, allowing you to see how the stock's price fluctuates from one day to the next.
A separate line is drawn to represent the highest percentage change detected so far.
If a day's price change matches the highest recorded change, a label appears on the chart to highlight that specific point.

Dynamic Updates:
The script is dynamic, meaning it continually updates as new data comes in. So, as new days are added to the chart, the script checks if the percentage change exceeds the previously highest recorded value.

Why This Is Useful:
For traders and investors: It provides a quick way to identify which day saw the most significant price movement, helping to spot major market events or volatility.

For historical analysis: You can quickly find the most extreme single-day price swings in a stock's historical data, which might be useful for understanding past market behavior or making predictions about future moves.