Definition
The maximum percentage decline of the asset's market PRICE from its peak since the indicator started observing. Tracks the underlying stock — does NOT consult position state. Useful as an emergency exit when the asset itself crashes, regardless of how the position is performing.
Parameters
Asset
Output range: 0 to 100 (percentage)
Example condition
`Underlying Max Drawdown(NVDA) > 20` (Close NVDA exposure when the stock is 20% off its peak)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.