Seasonal & Cycle (Monthly Average & Probability)
September 1, 2016, 7:35 PM
Indicators
3 Comments
Hi All,
I’m here to share a simple indicator that i use to calculate the average monthly price (Open – Close) and probability of previous years. No. of years can be configured in parameter, default value is 8 years. I use DAX monthly chart as example, you can use it on stocks, indices and etc. It can be useful indicator / filter on your trading strategy to control the quantity on high probability month. You also can modify the code to measure to average monthly price + shadow (high – low), and in “weeks” if you prefer.
Your suggestions are welcome.
br,
CKW
m = 0
AverageMon = 0
Positive = 0
Negative = 0
Pb = 0
If Year > 2014 then
For loop = 1 to Years do
AverageMon = (Close[m] - Open[m]) + AverageMon
If (Close[m] - Open[m]) > 0 then
Positive = Positive + 1
else
Negative = Negative + 1
endif
m = m + 12
next
If AverageMon > 0 then
Pb = Positive
else
Pb = Negative
endif
endif
Return AverageMon/(Years) as "Avg Price", ABS(Pb/Years)*100 as "Probability"
Download
Filename:
Season_Cycle_mon.itf
Downloads:
145
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