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A 52 week high can be detected on a daily chart by setting the indicator to a lookback period of 256 bars, which would be the equivalent of 256 business days.
Yes, when price touches the channel, it indicates a new 52-week high or low.
However, the Donchian Channel that comes with NinjaTrader only detects a 52-week high or a 52-week low, but not a new 52 week highest or lowest close. Both the NewHighsAndLows and the Donchian Channel indicator as per link below allow to detect a new high or low based on both high/low or close.
