OPEN-SOURCE SCRIPT
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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.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source verรถffentlicht. Auf diese Weise kรถnnen nun das Script auch andere Trader verstehen und prรผfen. Vielen Dank an den Autor! Sie kรถnnen das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Verรถffentlichung wird in unseren Hausregeln reguliert. Sie kรถnnen es als Favoriten auswรคhlen, um es in einem Chart zu verwenden.
Mรถchten Sie dieses Skript auf einem Chart verwenden?
Haftungsausschluss
Die Informationen und Verรถffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlรคgen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.