Beta Coefficient Indicator For FX

[logicgate]

Hey there guys. do you think it is possible to code this indi for FX (MT4)? Beta is used to assess the volatility of an instrument.

In stocks trading the beta is calculated by comparing a stock to a index. Since we don't have a broad market index in FX (Well, we have the US Dollar Index at least), I don't know how if this would work, but it is worth a try.

Here is what I found:

A much better idea is to construct a market average of currencies, making sure to adjust them for their dollar values, then compare them by standard deviation.

By calculating beta in this way, it is possible to find the currencies that are trading with the highest volatility compared to the rest. In this way:

Beta (EURUSD) = StdDev (EURUSD) / StdDev (market average)

[Apprentice]

TS2/LUa
Try this version.
viewtopic.php?f=17&t=67303

MT4/MQ4
Your request is added to the development list under Id Number 4442

[Apprentice]

MT4/MQ4 version.
viewtopic.php?f=38&t=67304

[logicgate]

MT4/MQ4 version.
viewtopic.php?f=38&t=67304

Thanks so much my friend, but I was thinking of it more in terms of a dashboard, like in the 4th image I posted? So you can keep an eye on which currency has the higher beta, like a heatmap. Using it in individual instrument is not that useful. I am sorry if I wasn't clear in my request.

[Apprentice]

Your request is added to the development list under Id Number 4443

[Apprentice]

Beta Coefficient List.mq4 added.

[logicgate]

Thanks mate!!