OPEN-SOURCE SCRIPT
️Omega Ratio by Near ☄️
Description:
The Omega Ratio by Near ☄️ is a multi-asset performance evaluation tool that calculates the Omega Ratio for a set of cryptocurrencies and a low-risk security over three different time periods. The Omega Ratio is a risk-adjusted performance measurement that takes into account both the positive and negative returns of an asset relative to a minimal acceptable return (MAR) level. Higher Omega Ratios indicate that an asset's positive returns outweigh its negative returns, suggesting better risk-adjusted performance.
Features:
Calculates Omega Ratios for the cryptocurrencies: BTCUSD, ETHUSD, BNBUSD, SOLUSD, ADAUSD, XMRUSD, STXUSD, and MATICUSD.
Uses IEF (a U.S. Treasury bond ETF) as a low-risk security to generate MAR levels for Omega calculations.
Three user-defined time periods for Omega Ratio calculations: Omega Period 1 (default: 2000 days), Omega Period 2 (default: 990 days), and Omega Period 3 (default: 600 days).
Displays Omega Ratios in a table format with color-coded cells for easy comparison of values across assets and time periods.
Usage:
To use this indicator, simply add it to your TradingView chart. The Omega Ratio values will be calculated and displayed in a table at the middle of the chart. Green cells indicate an Omega Ratio greater than or equal to 1, suggesting better risk-adjusted performance, while red cells indicate an Omega Ratio less than 1, suggesting poorer risk-adjusted performance. You can customize the time periods for Omega Ratio calculations by changing the input values for Omega Period 1, Omega Period 2, and Omega Period 3.
Please note that this indicator uses a maximum of 5000 bars for calculations, and the actual number of bars used may be limited by the available historical data on your chart.
If you have any issues, let me know.
Have a good one.
The Omega Ratio by Near ☄️ is a multi-asset performance evaluation tool that calculates the Omega Ratio for a set of cryptocurrencies and a low-risk security over three different time periods. The Omega Ratio is a risk-adjusted performance measurement that takes into account both the positive and negative returns of an asset relative to a minimal acceptable return (MAR) level. Higher Omega Ratios indicate that an asset's positive returns outweigh its negative returns, suggesting better risk-adjusted performance.
Features:
Calculates Omega Ratios for the cryptocurrencies: BTCUSD, ETHUSD, BNBUSD, SOLUSD, ADAUSD, XMRUSD, STXUSD, and MATICUSD.
Uses IEF (a U.S. Treasury bond ETF) as a low-risk security to generate MAR levels for Omega calculations.
Three user-defined time periods for Omega Ratio calculations: Omega Period 1 (default: 2000 days), Omega Period 2 (default: 990 days), and Omega Period 3 (default: 600 days).
Displays Omega Ratios in a table format with color-coded cells for easy comparison of values across assets and time periods.
Usage:
To use this indicator, simply add it to your TradingView chart. The Omega Ratio values will be calculated and displayed in a table at the middle of the chart. Green cells indicate an Omega Ratio greater than or equal to 1, suggesting better risk-adjusted performance, while red cells indicate an Omega Ratio less than 1, suggesting poorer risk-adjusted performance. You can customize the time periods for Omega Ratio calculations by changing the input values for Omega Period 1, Omega Period 2, and Omega Period 3.
Please note that this indicator uses a maximum of 5000 bars for calculations, and the actual number of bars used may be limited by the available historical data on your chart.
If you have any issues, let me know.
Have a good one.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.