Editors' picksOPEN-SOURCE SCRIPTBEST Dollar Cost Average
Updated
Hello traders
This is an upgraded version of my Dollar Cost Average (Data Window) script
1 - What is Dollar-Cost Averaging ( DCA )?
Dollar-Cost Averaging is a strategy that allows an investor to buy the same dollar amount of investment at regular intervals. The purchases occur regardless of the asset's price.
I hope you're hungry because that one is a biggie and gave me a few headaches. Happy that it's getting out of my way finally and I can offer it
🔸 This indicator will analyze for the defined date range, how a dollar-cost average ( DCA ) method would have performed (green panel) versus investing all the hard earnt money at the beginning (orange panel)
=> green versus orange
2- What's on the menu today?
My indicator works with all asset classes and with the daily/weekly/monthly inputs.
⚠️⚠️⚠️ However, results are only visible on the DAILY timeframe chart
As always, let's review quickly the different fields so that you'll understand how to use it (and I won't get spammed with questions in DM ^^)
🔸 Use current resolution: if checked will use the resolution of the chart
🔸 The timeframe used for DCA: different timeframe to be used if Use current resolution is unchecked
🔸 Amount invested in your local currency: The amount in Fiat money that will be invested at each period selected above
🔸 Starting Date
🔸 Ending Date
🔹 The script screenshot shows a DCA with 100 USD invested daily from 01.01.2017 to 01.28.2020
3- Bonus (DATA WINDOW)
🔸 Please check this screenshot to understand what you're supposed to see: Data window
And a quick video that I did months ago explaining how we can use this data window effectively
4 - Specifications used
I got the idea from this website dcabtc.com and the result shown by this website and my indicator are very interesting in general and for your own trading
The formula used for the DCA calculation is the one from the Investopedia website.
Best regards and best of luck
Dave
This is an upgraded version of my Dollar Cost Average (Data Window) script
1 - What is Dollar-Cost Averaging ( DCA )?
Dollar-Cost Averaging is a strategy that allows an investor to buy the same dollar amount of investment at regular intervals. The purchases occur regardless of the asset's price.
I hope you're hungry because that one is a biggie and gave me a few headaches. Happy that it's getting out of my way finally and I can offer it
🔸 This indicator will analyze for the defined date range, how a dollar-cost average ( DCA ) method would have performed (green panel) versus investing all the hard earnt money at the beginning (orange panel)
=> green versus orange
2- What's on the menu today?
My indicator works with all asset classes and with the daily/weekly/monthly inputs.
⚠️⚠️⚠️ However, results are only visible on the DAILY timeframe chart
As always, let's review quickly the different fields so that you'll understand how to use it (and I won't get spammed with questions in DM ^^)
🔸 Use current resolution: if checked will use the resolution of the chart
🔸 The timeframe used for DCA: different timeframe to be used if Use current resolution is unchecked
🔸 Amount invested in your local currency: The amount in Fiat money that will be invested at each period selected above
🔸 Starting Date
🔸 Ending Date
🔹 The script screenshot shows a DCA with 100 USD invested daily from 01.01.2017 to 01.28.2020
3- Bonus (DATA WINDOW)
🔸 Please check this screenshot to understand what you're supposed to see: Data window
And a quick video that I did months ago explaining how we can use this data window effectively
4 - Specifications used
I got the idea from this website dcabtc.com and the result shown by this website and my indicator are very interesting in general and for your own trading
The formula used for the DCA calculation is the one from the Investopedia website.
Best regards and best of luck
Dave
Release Notes
- republishing without the emojis. The emojis broke the whole script since yesterday 30.01 - Sorry for that, not my fault :)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.
⭐️ Listed as TradingView Trusted Pine Programmer
📧 Coding/Consulting Inquiries: dave@best-trading-indicator
Telegram: Daveatt
⏩ Course: best-trading-indicator.com
Twitter: twitter.com/bti_trading
📧 Coding/Consulting Inquiries: dave@best-trading-indicator
Telegram: Daveatt
⏩ Course: best-trading-indicator.com
Twitter: twitter.com/bti_trading
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.