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Beta Explorer & Indicator for stocks for Amibroker (AFL)
Rating:
4 / 5 (Votes 6)
Tags:
BETA, amibroker, exploration
This is a simple explorer & Indicator which fetches the value of beta, which can be used for their own interpretation for risk management. Can modify the periods in the code according to their convenience.
Indicator / Formula
Copy & Paste Friendly
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 | function Beta( BaseSymbol, N ){ Chg = ROC( C, 1 ); ChgBase = ROC( Foreign( BaseSymbol, "C" ), 1 ); return ( N * Sum( Chg * ChgBase , N ) - Sum( Chg, N ) * Sum( ChgBase, N ) ) / ( N * Sum( ChgBase ^ 2 , N ) - Sum( ChgBase, N ) ^ 2 );}symbol = ParamStr( "Symbol", "70001247" );Plot( Beta( symbol, Param( "Periods", 21, 2, 100 ) ), _DEFAULT_NAME(), ParamColor( "Color", ColorCycle ) );Filter = 1;AddTextColumn( FullName(), "FullName" );AddColumn( Close, "Close", 1.2 );AddColumn( Beta( "70001247", 50 ), "Beta", 1.2 ); //Replace 70001247 with your Nifty Symbol here |
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How can I use it?
Its just an explorer, change your nifty(or any comparable index) symbol in the code & execute