I am working with monthly data and trying to use the wavelet coherence to find correlations between two series. I have used the following codes by Ibn Abdullah.
Please find below the code I am using
t1 = cbind(Date, CL)
t2 = cbind(Date, Local)
wtc.AB = wtc(t1, t2, nrands = nrands
This part runs fine but the main problem is the wavelet coherence plot, I use this code
par(oma = c(0, 0, 0, 1), mar = c(5, 4, 7, 8) + 0.5)
plot(wtc.AB, plot.phase = TRUE, lty.coi = 1, col.coi = "grey", lwd.coi = 2,
lwd.sig = 3, arrow.lwd = 0.02, arrow.len = 0.06, ylab = "Scale", xlab = "Period",
plot.cb = TRUE, main ="Title")
n = length(A)
abline(v = seq(324, n, 324), h = 1:26, col = "brown", lty = 1, lwd = 1)
What I would like is to be able to label the x-axis with the years and then the y-axis with the month.
Can anyone advise?