OPEN-SOURCE SCRIPT
Seasonality Forecaster
The Seasonaliity Forcaster indicator takes advantage of the seasonality of the price to create a forecast of how the price could go in the coming days.
It is calculated on the DAILY chart that contains about 260 days of market and I recommend using it on that chart.
In the properties under "Style" you can turn on or off the chart of what made the price 1, 2, 3, 4, 5 years ago or the average of the last 5, 7 or 10 years (if there are enough data).
Under "Input" you can decide the offsets of the various charts, or horizontally align the various charts to find the most similar configuration to what the price has done, so as to understand if the price is following the seasonality of a few years in particular, the vertical alignment is a decimal number that allows you to raise or lower the chart in percentage to better align it with the price.
How to use it:
1) under "Properties" --> "Style" deselect all the last years charts and leave just the actual price.
2) select just the last year chart.
3) under input you have the parameters to change to align the last year chart on the actual price chart, the indicator by default show the forecast 100 bars,
align the horizontal offset and the vertical alignment to put the 2 charts together, you have to find the macro trend, not the micro, of the last 5 - 6 months.
4) repeat it with another chart, for example 2 years ago
5) then repeat it with all the charts, if there are no macro trend as the actual price deselect the chart
6) when you find a good overlap look for the candle chart to find a good level to enter.
That's it that's all.
It is calculated on the DAILY chart that contains about 260 days of market and I recommend using it on that chart.
In the properties under "Style" you can turn on or off the chart of what made the price 1, 2, 3, 4, 5 years ago or the average of the last 5, 7 or 10 years (if there are enough data).
Under "Input" you can decide the offsets of the various charts, or horizontally align the various charts to find the most similar configuration to what the price has done, so as to understand if the price is following the seasonality of a few years in particular, the vertical alignment is a decimal number that allows you to raise or lower the chart in percentage to better align it with the price.
How to use it:
1) under "Properties" --> "Style" deselect all the last years charts and leave just the actual price.
2) select just the last year chart.
3) under input you have the parameters to change to align the last year chart on the actual price chart, the indicator by default show the forecast 100 bars,
align the horizontal offset and the vertical alignment to put the 2 charts together, you have to find the macro trend, not the micro, of the last 5 - 6 months.
4) repeat it with another chart, for example 2 years ago
5) then repeat it with all the charts, if there are no macro trend as the actual price deselect the chart
6) when you find a good overlap look for the candle chart to find a good level to enter.
That's it that's all.
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.