OPEN-SOURCE SCRIPT
altcoin index oscillator
Purpose
This will give indication as to whether a specific altcoin is overbought or oversold, as determined by it's difference from the "altcoin index".
Use
Add it as an indicator while looking at the chart you would like to assess. Click the settings button (cog) to select which coins you would like included in the index.
You can couple this tool with the "alctoin index overlay" indicator to view the correlation.
Notes
The "altcoin index" is the average BTC price of a selection of altcoins. Therefore this is their relation to bitcoin and not any national currency. Due to this, the indicator will be useless if you try to use it with BTCUSD etc.
This will give indication as to whether a specific altcoin is overbought or oversold, as determined by it's difference from the "altcoin index".
- if the current security is above the index, the oscillator will show above zero.
if the current security is below the index, the oscillator will show below zero.
Use
Add it as an indicator while looking at the chart you would like to assess. Click the settings button (cog) to select which coins you would like included in the index.
You can couple this tool with the "alctoin index overlay" indicator to view the correlation.
Notes
The "altcoin index" is the average BTC price of a selection of altcoins. Therefore this is their relation to bitcoin and not any national currency. Due to this, the indicator will be useless if you try to use it with BTCUSD etc.
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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