- Operates for any ticker. This indicator will not work properly on anything except a day chart using , bars, or Heikin Ashi candles.
- Any look back period (in years) is possible, as long as there is data available. This indicator will only plot values while the selected look back length is greater than the total number of years available at a given location on the chart.
- Plots the current performance of the instrument on top of the profile. This is useful to observe how the current year's performance is unfolding against the expected profile.
- Has the option to plot the projected price values based on the profile. This is used to demonstrate how the instrument "should perform" with real prices instead of percentages. These are simulated prices using the profile.
- Has the option to fit the performance to the profile for easier viewing. This is especially useful when the current performance is vastly different than the expected .
- Can plot the current profile against the current performance AND the historical profiles against the respective historical performance. This is useful to observe the seasonality evolution in the past, as the profile changes once per year.
- Has the option to plot all FOMC dates up to 30 years in into the past.
- Has the option to plot the next FOMC date directly on the chart at the correct future bar location.
- Has logic for daylight savings time and leap years.
Please view the following two videos to understand more:
Introduction Part 1 - Trader
Introduction Part 2 - Variance and Performance Scripts
Please PM me on Trading View or Telegram for access.
Seasonality examples can be found on Equity Clock, here is one for the SPX500 index, which shows the last 20 years of performance throughout the year.
A +1 correlation means that both are exhibiting perfect positive correlation (they are running together), while a -1 correlation means that both are exhibiting perfect negative correlation (the are running opposite).
For more information on this Wikipedia or this example.
- Optimized display.
- Updated correlation display.
- Fixed sampling algorithm for Pearson Coefficient.
- Updated display.