Definition
Peak-to-current drawdown of the aggregated P&L percentage across option spreads matching the filter. Stateful sibling of Option Position P&L%: while P&L% returns the current value, this indicator tracks the highest P&L% observed and returns how far the position has fallen from that peak. Resets when no matching spreads remain so a fresh entry starts from a clean peak.
Parameters
Underlying (optional), Option Type (optional), Direction (optional), Spread Type (optional)
Output range: >= 0 (percentage points of P&L)
Example condition
`Option Position Max Drawdown(AVGO) > 25` (Close AVGO option exposure when it has given back 25% of its peak P&L since entry)Use in a strategy
Add this indicator to a strategy condition, choose its supported parameters and compare the output with the threshold required by your rule. Preserve the same interval and lookback when comparing backtests.
After saving the condition, inspect its asset, interval, lookback and comparison operator against the parameters above. If no trades occur, check whether the condition ever became true and whether the requested input data exists for that period. A missing input is not a zero-valued signal. An indicator produces an input to a rule. It does not establish future returns, and data availability can differ across assets and periods.