OPEN-SOURCE SCRIPT
Updated Asset Testing
Indicator to compare different asset's alpha to Ethereum / Base asset.
Used as a complement analysis to the different ratio charts. (SOLUSD/ETHUSD, ...)
Helps to maximize opportunity cost and determination of the optimal asset.
Alpha:
Alpha is a metric that gauges the additional return produced by an investment relative to its anticipated return, considering its risk, as reflected by its beta. It evaluates investment performance while accounting for market risk. A positive alpha signifies superior performance, whereas a negative alpha indicates a performance below expectations.
Math completely stolen from QuantiLuxe: (Thank you <3)
Used as a complement analysis to the different ratio charts. (SOLUSD/ETHUSD, ...)
Helps to maximize opportunity cost and determination of the optimal asset.
Alpha:
Alpha is a metric that gauges the additional return produced by an investment relative to its anticipated return, considering its risk, as reflected by its beta. It evaluates investment performance while accounting for market risk. A positive alpha signifies superior performance, whereas a negative alpha indicates a performance below expectations.
Math completely stolen from QuantiLuxe: (Thank you <3)
Release Notes
Added names in a tableRelease Notes
Polished the table / namesRelease Notes
Image + Cleaned status lineRelease Notes
Added option to plot the DMI for easier top/bottom detectionOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.