Average Year over Year Indicator

This Average Year over Year indicator will calculate the average close price (or any other time series) movement over the preceding N-years.

For any particular date, it will take the preceding N-year values and calculate the average one-bar return of these values.

Note that this indicator can work with daily, weekly and monthly time frame as well as intraday time if you have several years' worth of intraday data.

To use this trading indicator and compare your asset movement with the average movement over the past years, first click on the "Download" button at the bottom then install the indicator.

In QuantShare, right click on your chart, select "Edit Formula" then type the following formula:

PlotCandleStick("Quotes", colorBrown|255|colorViolet|255|0, StyleSymbolVdash);

a = AvgYearOverYear(open, 4);
plot(a, "Average Year over Year Indicator", colorRed, ChartLine, StyleOwnScale);

Once done, right click again on the chart, select "Tools" then "Set Percentage Scale". This will allow you to easily compare the candlestick with the average return line by making both time series start at the same level.

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