DrawdownTracker

How far price sits below its highest close so far: 0 at a new high, negative while it is pulled back.

DrawdownTracker keeps the highest close seen since the first bar on the chart and reports two lines: the drawdown, which is the close's fractional distance below that high (0 at a new high, negative otherwise), and the high itself. The high never resets, so a pullback is measured from the best close of the whole loaded range, not from a recent swing. Only closes count; intrabar highs and lows are ignored.

How to read it

The drawdown line lives in its own pane below the price and is never above zero.
Zero means the close is at a new high. The line falls back toward zero as price climbs to new highs.
The high line sits on the price scale and only rises. A flat stretch means price has not made a new closing high.
On SPY one-minute bars for September 2026 the drawdown was within 0.1% of zero on only about 5% of bars, and its median was about -1.1%.

What it outputs

Drawdown: The close's distance below its highest close so far, as a fraction: 0 at a new high, -0.03 for 3% below.
Highest close so far: The highest close since the first bar. It only rises and is drawn on the price scale, so it shows the level a pullback is measured from.

Pitfalls

The high never resets, so after a long run the drawdown can stay negative for hours until price makes a new closing high. A deep reading may reflect a high from earlier in the loaded data, not a recent swing.
Only closes count. An intrabar spike above the high that closes lower does not move the high, so the drawdown can look shallower than the bar's range suggests.
The catalog description is copied from an unrelated helper class, so the behavior described here comes from the code, not that text.