Peak-to-trough decline and recovery

A drawdown is the fall from a prior high, measured to the low that followed. This read shows the underwater curve — how far below its running high the price has traded, session by session — with the worst peak-to-trough decline, the deepest episodes, how much of that decline has been recovered, and how long it has been underwater. Depth and recovery are magnitudes, not a direction — they record what already happened and make no call on what follows.