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Is the formula for the Maximum Adverse Excursion for a Short Selling Trade the (Open - High) / Open), or (High - Open) / Open ?

Is the formula for the Maximum Adverse Excursion for a Short Selling Trade the (Open - High / Open), or (High - Open) / Open ?

Is the formula for the Maximum Adverse Excursion for a Short Selling Trade the (Open - High) / Open, or (High - Open) / Open ?

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Maximum Adverse Excursion Formula - Short Trade Position?

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Maximum Adverse Excursion - Short Trade Position

Is the formula for the Maximum Adverse Excursion for a Short Selling Trade the (Open - High / Open), or (High - Open) / Open ?