OPEN-SOURCE SCRIPT
Updated Even vs Odd Weeks Performance
█ OVERVIEW
The Even vs Odd Weeks Performance indicator is designed to visualise and compare the performance of even-numbered weeks versus odd-numbered weeks. This indicator explores one of the many calendar based anomalies that exist in financial markets.
In the context of financial analysis, a calendar based anomaly refers to patterns or tendencies that are linked to specific time periods, such as days of the week, weeks of the month, or months of the year. This indicator helps explore whether such a calendar based anomaly exists between even and odd weeks.
By calculating cumulative weekly performance and counting the number of weeks with positive returns, it provides a clear snapshot of whether one set of weeks tends to outperform the other, potentially highlighting a calendar based anomaly if a significant difference is observed.
█ FEATURES
█ HOW TO USE
The Even vs Odd Weeks Performance indicator is designed to visualise and compare the performance of even-numbered weeks versus odd-numbered weeks. This indicator explores one of the many calendar based anomalies that exist in financial markets.
In the context of financial analysis, a calendar based anomaly refers to patterns or tendencies that are linked to specific time periods, such as days of the week, weeks of the month, or months of the year. This indicator helps explore whether such a calendar based anomaly exists between even and odd weeks.
By calculating cumulative weekly performance and counting the number of weeks with positive returns, it provides a clear snapshot of whether one set of weeks tends to outperform the other, potentially highlighting a calendar based anomaly if a significant difference is observed.
█ FEATURES
- Customisable time window through input settings.
- Tracks cumulative returns for even and odd weeks separately.
- Easily adjust table settings like position and font size via input options.
- Clear visual distinction between even and odd week performance using different colours.
- Built-in error checks to ensure the indicator is applied to the correct timeframe.
█ HOW TO USE
- Add the indicator to a chart with a Weekly timeframe.
- Choose your start and end dates in the Time Settings.
- Enable or disable the performance table in the Table Settings as needed.
- View the cumulative performance, with even weeks in green and odd weeks in red.
Release Notes
Added performance labelsOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.