OPEN-SOURCE SCRIPT
2024 - Seasonality - Open to Close
Script Description:
This Pine Script is designed to visualise **seasonality** in the financial markets by calculating the **open-to-close percentage change** for each month of a selected asset. It creates a **heatmap** table to display the monthly performance over multiple years. The script provides detailed statistical summaries, including:
- **Average monthly percentage changes**
- **Standard deviation** of the changes
- **Percentage of months with positive returns**
The script also allows users to adjust colour intensities for positive and negative values, specify which year to start from, and skip specific months. Key metrics such as averages, standard deviations, and percentages of positive months can be toggled on or off based on user preferences. The result is a clear, visual representation of how an asset typically performs month by month, aiding in seasonality analysis.
This Pine Script is designed to visualise **seasonality** in the financial markets by calculating the **open-to-close percentage change** for each month of a selected asset. It creates a **heatmap** table to display the monthly performance over multiple years. The script provides detailed statistical summaries, including:
- **Average monthly percentage changes**
- **Standard deviation** of the changes
- **Percentage of months with positive returns**
The script also allows users to adjust colour intensities for positive and negative values, specify which year to start from, and skip specific months. Key metrics such as averages, standard deviations, and percentages of positive months can be toggled on or off based on user preferences. The result is a clear, visual representation of how an asset typically performs month by month, aiding in seasonality analysis.
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.
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.