4 year seasonality - % (Daily TF)
Inspired by the work done by crasher (can be found here: www.tradingview.com/v/thMIhiZ7/).
Improvement of my earlier adaptation (can be found here: www.tradingview.com/v/fXwHPijr/).
This script projects the average % change of the selected security in the past 4 years.
Improvement of my earlier adaptation (can be found here: www.tradingview.com/v/fXwHPijr/).
This script projects the average % change of the selected security in the past 4 years.
study("Cycle Seasonality - % (Daily TF)")
Period = input(title="Period Cycle", type=integer , defval=264)
Seasonlength = input(title="Season length", type=integer, defval=66)
Smoothing = input(title="SMA (smoothing)", type=integer, defval=5)
LBP = Period / Seasonlength
lastyear = (close - close[1*Period/LBP]) / close[1*Period/LBP]
twoyearsago = (close[1*Period] - close[1*Period + Period/LBP]) / close[1*Period + Period/LBP]
threeyearsago = (close[2*Period] - close[2*Period + Period/LBP]) / close[2*Period + Period/LBP]
fouryearsago = (close[3*Period] - close[3*Period + Period/LBP]) / close[3*Period + Period/LBP]
cum = (lastyear+twoyearsago+threeyearsago+fouryearsago)/4
smacum = sma(cum, Smoothing)
scolor = smacum >= 0 ? green : red
hline(0)
plot(smacum*10, color=scolor, offset = 264, style=columns)