new high bar 1% down stop loss indicator

 A "new high bar 1% down" stop loss indicator is a trailing stop mechanism designed to protect profits by tracking the highest price reached since a trade began and triggering an exit if the price drops by a specific percentage (e.g., 1%) from that peak. 

Key Features and Indicators:

• Percent Drop from Highest High (by BigJasTrades): This TradingView indicator plots the highest high from a set number of bars ago and calculates a trailing stop loss a specified percentage below that line.
• High/Low nBar Trailing Stop: An indicator that acts as an aggressive, one-bar trailing stop loss that moves upward, capturing a portion of a move by following the most recent high in a trend.
• Market Structure Based Stop Loss: A TradingView tool that provides objective, "guess-free" stop loss levels based on current volatility and structure. 

How It Works:

1. Identify New High: The indicator constantly updates to find the highest price bar since the entry point.
2. Calculate Stop Loss: It calculates a 1% (or custom percentage) decrease from that maximum high.
3. Trail & Exit: The stop loss level only moves up with new highs; it never moves down. If the price falls to or below this calculated line, the indicator signals a stop-loss exit. 

This approach is highly effective for capturing quick, sharp price moves and avoiding holding through significant pullbacks, particularly in high-momentum scenarios, according to TradingView insights.