TradingView
Arun_K_Bhaskar
9 mai 2021 09:01

Screener: Alpha & Beta 

NSE:SAIL5
STEEL AUTHOR INDIANSE

Description

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This is a Live Screener for my previous Alpha & Beta indicator, which filters stocks lively based on the given values.
Use 5min timeframe for Live Intraday.
The default stocks in the screener is selected based on high beta value from F&O listed stocks. It may include other stocks also.
User can input stocks of your choice either through the menu or through the Pine editor.
The maximum number of stocks inputs is only 40. The indicator includes only 20 stocks by default.
More number of stocks can be added but it makes the screener slower to load.
Open the indicator in a sperate tab or window to avoided the loading lag.
It is recommended to choose only 10 to 20 stocks based on the weightage from each sectors.
Beta values are dynamic. It changes from day to day based on the trend and sector.
Update the sock list weekly or twice a week or monthly.
Use investing.com screener(preferably) or TradingView screener for shortlisting beta stocks.
Remember that majority of indicators fails in a sideways market, also every indicator is not 100% accurate.

Notes de version

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Removed Long or Short titles. It might be misleading in volatile markets.

Notes de version

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Updated position.

Notes de version

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Updated on: 26 Nov 2023
Enhanced Analysis Features:
  • The formula has been updated.
  • Evaluate all stocks against the benchmark index using alpha and beta metrics.
  • Can screen up to 38 symbols due to TradingView's request limit of 40.
  • Organized and readable code for better user understanding.
  • Easily analyze additional symbols by replacing indicators in the Paste Symbol box.
  • Offers flexibility and customization options for users.

How to Use:
  • Step 1 - Choose the desired period in settings.
  • Step 2 - Match the chart timeframe with the selected period for accurate results (e.g., 'Medium Term - 52 W (1Y)' corresponds to 'W' for Weekly).
Trend AnalysisVolatilityRelative Strength Comparisonalphabetascreenerscannerintradaymultitimeframesalphabetarelativestrength
Commentaires
zeromanzero
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hello arun. Had a discussion with you on magnetic zone indicator. Been trying this, I have a few points to make. Can you please make the time period changeble, like not just 5 min...but 15min, 1hour. Next, security funtion cannot be called more than 40 times, it would be great if you could add some kind of horizontal and vertical value so I can use one single indicator multiple times with different stocks in filter and the scan results does not overlap each other. Thanks.
Arun_K_Bhaskar
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@zeromanzero, I will update. Pinescript won't allow securities more than 40.
kamlesh512
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Sir
Pls check the indicator

Volume Price Trend with Divergence and Pivot Points
I guess combination of the indicator n your script angle n volume flow n screener would be bingo...
Arun_K_Bhaskar
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@kamlesh512, What are the rules that you want to screen the stocks.
kamlesh512
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@Arun_K_Bhaskar,
Heres is the script Its prepared by Adonis werther sir.
//@version=5
// VPT oscillator
indicator(title='Volume Price Trend with Divergence and Pivot Points ', shorttitle='VPT Osc', format=format.volume, precision=0, timeframe='')
src = input(close, title='Source')
shortLength = input(3, title='Short VPT period')
longLength = input(20, title='Long VPT period')
pivR = input(title='VPT Wave Pivot Lookback Right', defval=1)
pivL = input(title='VPT Wave Pivot Lookback Left', defval=20)

// Compute VPT ocillator
obvOsc = ta.ema(ta.pvt, shortLength) - ta.ema(ta.pvt, longLength)

obvColor = obvOsc > 0 ? color.new(color.aqua, 60) : color.new(color.orange, 60)

// Divergence

up = ta.rma(math.max(ta.change(src), 0), shortLength)
down = ta.rma(-math.min(ta.change(src), 0), shortLength)
lbR = input(title='Divergence Pivot Lookback Right', defval=1)
lbL = input(title='Divergence Pivot Lookback Left', defval=5)
rangeUpper = input(title='Max of Lookback Range', defval=100)
rangeLower = input(title='Min of Lookback Range', defval=2)
plotBull = input(title='Plot Bullish', defval=true)
plotHiddenBull = input(title='Plot Hidden Bullish', defval=true)
plotBear = input(title='Plot Bearish', defval=true)
plotHiddenBear = input(title='Plot Hidden Bearish', defval=true)
bearColor = color.new(color.red, 0)
bullColor = color.new(color.green, 0)
hiddenBullColor = color.new(color.aqua, 0)
hiddenBearColor = color.new(color.orange, 0)
textColor = color.new(color.white, 0)
noneColor = color.new(color.white, 100)
osc = ta.ema(ta.pvt, shortLength) - ta.ema(ta.pvt, longLength)
plFound = na(ta.pivotlow(osc, lbL, lbR)) ? false : true
phFound = na(ta.pivothigh(osc, lbL, lbR)) ? false : true
_inRange(cond) =>
bars = ta.barssince(cond == true)
rangeLower <= bars and bars <= rangeUpper

//------------------------------------------------------------------------------
// Regular Bullish
// Osc: Higher Low

oscHL = osc[lbR] > ta.valuewhen(plFound, osc[lbR], 1) and _inRange(plFound[1])

// Price: Lower Low

priceLL = low[lbR] < ta.valuewhen(plFound, low[lbR], 1)
bullCond = plotBull and priceLL and oscHL and plFound

plot(plFound ? osc[lbR] : na, offset=-lbR, title='Regular Bullish', linewidth=1, color=bullCond ? bullColor : noneColor, transp=0)

plotshape(bullCond ? osc[lbR] : na, offset=-lbR, title='Regular Bullish Label', style=shape.labelup, location=location.absolute, size=size.tiny, color=bullColor, textcolor=textColor, transp=0)

//------------------------------------------------------------------------------
// Hidden Bullish
// Osc: Lower Low

oscLL = osc[lbR] < ta.valuewhen(plFound, osc[lbR], 1) and _inRange(plFound[1])

// Price: Higher Low

priceHL = low[lbR] > ta.valuewhen(plFound, low[lbR], 1)
hiddenBullCond = plotHiddenBull and priceHL and oscLL and plFound

plot(plFound ? osc[lbR] : na, offset=-lbR, title='Hidden Bullish', linewidth=1, color=hiddenBullCond ? hiddenBullColor : noneColor, transp=0)

plotshape(hiddenBullCond ? osc[lbR] : na, offset=-l
Arun_K_Bhaskar
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@kamlesh512, I have already seen the script. I was not asking for that. I was asking for the rules. Eg: For example for Long entry in ema crossover strategy the Entry can be taken when the Fast ema cross above the Slow ema.
kamlesh512
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@Arun_K_Bhaskar,
I apologize about the irelavent answer, I would like to screen the stocks comply regular bull divergence or hidden bull divergence condition.
is the screener filter script relatively current tf or just daily time frame. Can we have option to switch timeframe.
Thanks for your kind response.
tishapatel28
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Hello sir nice work
thshaymaa
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thanks for updating but the codes of my stock exchange market could not displayed
Arun_K_Bhaskar
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@thshaymaa, You can change the exchange and symbols according to your choice.
Plus