OPEN-SOURCE SCRIPT

Seasonality: Month Highlight

Updated
Many Assets, especially Commodities , have patterns of seasonality: Periods in the year when they have shown a greater tendency to rise or a greater tendency to fall.
The Seasonality of an asset is based on historical data (20yrs+): Specific asset seasonality charts can be found via an online search.

This is a simple tool that allows users to highlight and color code each of the 12 months of the year; depending on the seasonality of the specific asset.
The above chart shows Sugar Futures ; which are a seasonal 'sell' in February , and a seasonal 'buy' in May and August.

Seasonality should only be used to compliment a trading setup, NOT as a single reason in itself to buy or sell. Simply put: if you find a good setup, AND you have seasonality on your side; your odds of success are increased.
Release Notes
~Now plots future & past background month highlights (future highlight only on Daily timeframe)
~More formatting options; choose each month and choose its respective background color
~Shown above with Gold seasonal tendency bullish/bearish months
Release Notes
Correction:
Rather than saying "Gold seasonal tendency bullish/bearish months";
More properly I should say, months where one might look for a seasonally supported 'Buy' or a seasonally supported 'Sell' in Gold
backgroundbackground-colorhighlightMonthly ChartsseasonaltendenciesTrend Analysis

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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