Author: Optuma Team Last updated: Jun 30, 2021 01:22

The Drawdown tool calculates three measures from a user-defined high that can be displayed below the chart. By default, all values are calculated over one year, but the lookback periods can be adjusted.

  • Drawdown - current percentage from the high
  • Average - average drawdown
  • Maximum Drawdown - highest drawdown

In this example, TSLA is currently 31% below its 52 week high, and over the last year the average drawdown has been 17%, with a maximum of 63%.


Scripting Function: DDP()

To show the average 6 month drawdown in a watchlist: DDP(DEFAULT=Average, BACKTYPE=Months, LOOKBACKBARS=6)

Actions & Properties



Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.

Add to Toolbar: Adds the selected tool to your custom toolbar.

Apply Settings to All: When multiple Drawdown tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Drawdown tools in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.

Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.

Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Drawdown tool to a chart, the tool will display using the new settings.

Delete: Deletes the tool from the chart.



Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

Look Back Type: Choose the timeframe of the lookback period, eg Months, Years.

Look Back Amount: Select the amount of periods to look back, eg 1 Year, 6 Months.

Drawdown Style: Expands to display the plot style properties of the drawdown plot, such as shading colour, and transparency.

Average Line Style: Expands to display the plot style properties of the average plot, such as colour, width, and transparency.

Max Line Style: Expands to display the plot style properties of the maximum plot, such as colour, width, and transparency.

Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.

Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.

Visible: Un-tick this checkbox to hide the tool from the chart.

Show in Price Scale: When selected, the current Drawdown values will be displayed in the Price Scale.

Lock Tool: When selected, any changes to the tool will be prevented from being made.