Multi-Asset Performance [Spaghetti] - By Leviathan

How it works

The Multi Asset Performance indicator calculates cumulative percentage changes for up to 30 symbols across different data types like Price, Open Interest, and On Balance Volume. Users can select a specific time period for data reset and customize asset groups.

The indicator generates multiple analytical tools including correlation coefficients, beta calculations, and RSI measurements. It plots these metrics using various visualization styles such as lines, circles, or areas. The script offers smoothing options through Simple Moving Average and can highlight top or bottom performers in the selected asset group

Why it may be useful

This indicator provides traders with a comprehensive view of multiple asset performances simultaneously, enabling sophisticated market analysis. It helps identify relative asset strengths, detect potential trading opportunities, and understand complex market relationships.

Traders can evaluate statistical connections between different assets, construct pairs trading strategies, and detect broader market sentiment shifts. The tool's flexibility allows for nuanced analysis of various financial instruments, making it valuable for developing more informed and data-driven trading decisions

When to explore it

The Multi Asset Performance indicator is most effective during periods of market complexity or when comparing multiple assets' performances. It works best for traders seeking to understand broader market trends, identify correlations between different financial instruments, and develop sophisticated trading strategies.

Ideal for analyzing portfolio diversification, detecting market rotations, and evaluating relative asset strengths. Particularly useful during volatile market conditions, sector rotations, or when comparing assets across different market segments

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