OPEN-SOURCE SCRIPT
Beta Calculator
Beta is a measure of an asset's volatility relative to the market (the S&P500 is the most widely used index for this). A beta of 1 indicates that the asset moves exactly like the market, a beta < 1 indicates that the asset is less volatile than the market, and a beta > 1 means that the asset amplifies market movements.
This tool is used to calculate easily the Beta coefficient of an asset using 4 parameters :
- Symbol : The Asset's Ticker
- Reference : The Market Index Ticker
- Lookback Candles : The number of candles to include in the calculation
- (Implict) Resolution : The timeframe you are using, defines the precision
This tool is used to calculate easily the Beta coefficient of an asset using 4 parameters :
- Symbol : The Asset's Ticker
- Reference : The Market Index Ticker
- Lookback Candles : The number of candles to include in the calculation
- (Implict) Resolution : The timeframe you are using, defines the precision
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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