A few months ago I published the first version of the Monthly Returns for Strategies in Pine Script. I received quite a lot of good feedback and quite a lot of requests to update it.
This is a more advanced version of the Monthly Returns, in it, you can:
- Display monthly returns of your strategy, benchmark, and alpha over this benchmark.
- Select benchmark to be another instrument
- Select the date from which you want to compute monthly returns
- Show/hide benchmark and alpha
- Choose colors for gradient for gain/loss values
- Use it with any type of strategy
- Use it with replay
I hope it will be useful for you.
It's not about the strategy itself but the way you display returns on your chart. So pls don't critique my choice of the strategy and its performance 🙂
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
Pine Programming v5: qntly.com/pineprog
Adv.Pine Use-Cases: qntly.com/advpine
Access to Pro Indic.: qntly.com/proind
Hire Me: qntly.com/hirepine
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 a publication is governed by House Rules. You can favorite it to use it on a chart.