OPEN-SOURCE SCRIPT
𝘈𝘚𝘚𝘌𝘛-𝘛𝘙𝘈𝘊𝘒𝘌𝘙
This TradingView Pine Script calculates and visualizes Beta and Alpha for different groups of cryptocurrencies.
Key Functions:
Asset Selection: Users can choose an asset group (e.g., "RSPS+", "AI", "MEME", "GAMING"), each containing specific cryptocurrencies.
Beta Calculation: Beta measures an asset's volatility compared to Bitcoin (BTC). It's calculated over different periods to determine relative volatility.
Alpha Calculation: Alpha evaluates performance relative to BTC, considering risk. A positive Alpha means the asset outperformed BTC.
Rate of Change (RoC): The script calculates the average RoC of Beta and Alpha over the past 15 days, with a secondary version showing the same data as of 5 days ago.
Lookback Periods: The script compares Beta and Alpha over two lookback periods:
Lookback Period 1: The specified lookback period.
Lookback Period 2: Twice the lookback period, offering a broader perspective on trends.
Table Visualization: Results are color-coded:
Green: When RoC (Rate of Change) is positive.
Red: When RoC is negative.
Dark Blue: Appears when Beta or Alpha exceeds a defined threshold.
Themes: Supports "DARK" and "LIGHT" visual themes.
Summary:
Beta: High Beta (>1) indicates more volatility than BTC; low Beta (<1) indicates less.
Alpha: Positive Alpha suggests better performance than BTC when adjusted for risk.
The script helps traders assess the risk (Beta) and performance (Alpha) of various cryptocurrencies compared to BTC, with detailed RoC metrics and multiple lookback periods to provide a comprehensive view of recent trends and long-term behavior.
Key Functions:
Asset Selection: Users can choose an asset group (e.g., "RSPS+", "AI", "MEME", "GAMING"), each containing specific cryptocurrencies.
Beta Calculation: Beta measures an asset's volatility compared to Bitcoin (BTC). It's calculated over different periods to determine relative volatility.
Alpha Calculation: Alpha evaluates performance relative to BTC, considering risk. A positive Alpha means the asset outperformed BTC.
Rate of Change (RoC): The script calculates the average RoC of Beta and Alpha over the past 15 days, with a secondary version showing the same data as of 5 days ago.
Lookback Periods: The script compares Beta and Alpha over two lookback periods:
Lookback Period 1: The specified lookback period.
Lookback Period 2: Twice the lookback period, offering a broader perspective on trends.
Table Visualization: Results are color-coded:
Green: When RoC (Rate of Change) is positive.
Red: When RoC is negative.
Dark Blue: Appears when Beta or Alpha exceeds a defined threshold.
Themes: Supports "DARK" and "LIGHT" visual themes.
Summary:
Beta: High Beta (>1) indicates more volatility than BTC; low Beta (<1) indicates less.
Alpha: Positive Alpha suggests better performance than BTC when adjusted for risk.
The script helps traders assess the risk (Beta) and performance (Alpha) of various cryptocurrencies compared to BTC, with detailed RoC metrics and multiple lookback periods to provide a comprehensive view of recent trends and long-term behavior.
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.