Seasonal - Trading Day of Month

17 thg 8, 2023

Indicator Description: Historical Comparative Price Analysis

The Historical Comparative Price Analysis indicator serves as a comprehensive tool for evaluating price changes over distinct trading periods. By configuring the date settings, the indicator captures the percentage change data for each individual day or month, facilitating a clear historical perspective. Each year is represented in a separate row, allowing for a side-by-side presentation of corresponding data for the same trading day or week.

Within the "Summary" row, the indicator calculates the average change for each selected trading day within a specified time frame. This calculation, rooted in Larry Williams' concept, considers trading days rather than calendar days. The "Summary" row provides a quick insight into whether the current price change exceeds or falls short of the average change within the chosen time frame.

The indicator's final row presents a comprehensive overview, including the maximum and minimum average changes. It showcases the closing price from the first column of the 10th row, aiding in distinguishing between the last trading day of the month and the first trading day, which varies due to different market opening times.

To enhance visual analysis, the indicator attempts to display the price average of the chosen time frame as a reference line on the chart. The maximum and minimum values are added or subtracted from the reference line to create an average price channel. The color of the candlesticks dynamically changes to indicate whether the current price change is above or below the average.

For optimal results, we recommend selecting the previous year's data and the current month's data from the 1st to the 31st day. In weekly charts, multiple months can be selected to provide a broader perspective on price trends.

Enhance your trading insights with the Historical Comparative Price Analysis indicator, and gain a deeper understanding of how current price changes relate to historical averages.

Note: This description is intended for educational and informational purposes and is not intended as financial advice. Always conduct your research and analysis before making trading decisions.