This ProBuilder code snippet is designed to calculate the drawdown percentage of a trading strategy’s equity curve. The drawdown is a measure of the decline from a historical peak in some variable (typically the cumulative profit or total open equity of a financial trading strategy).

if longonmarket then
    floatingProfit = (((low - positionprice ) * pointvalue) * countofposition) / pipsize
endif

if shortonmarket then
    floatingProfit = (((high - positionprice) * pointvalue) * abs(countofposition)) / pipsize
endif

floatingEquity = StrategyProfit + floatingProfit
maxequity = max(maxequity, StrategyProfit + floatingProfit)
ddperc = ((floatingequity / maxequity) * 100) - 100

graph ddperc

Explanation of the code:

• Conditional Statements: The code begins with two conditional statements to check if the trading position is long or short. Depending on the position type, it calculates the floating profit differently.
• Floating Profit Calculation: For a long position, the floating profit is calculated by subtracting the position price from the lowest price (low), then multiplying by the point value and the number of positions, and finally dividing by the pip size. For a short position, it uses the highest price (high) instead of the lowest.
• Equity Calculation: The floating equity is calculated by adding the strategy’s static profit (StrategyProfit) to the floating profit.
• Maximum Equity: The maximum equity is updated to be the greater value between the current maximum equity and the current floating equity.
• Drawdown Percentage: The drawdown percentage (ddperc) is calculated by dividing the floating equity by the maximum equity, multiplying by 100, and then subtracting 100. This gives the percentage decrease from the maximum equity.
• Graphing: Finally, the drawdown percentage is plotted on a graph using the graph function.

This snippet is useful for traders and analysts who want to monitor the risk and performance of their trading strategies by visualizing the drawdown in real-time.