Simple Dominance Momentum Indicator

The Simple Dominance Momentum Indicator is a powerful tool for tracking market trends in the world of cryptocurrency. By analyzing the relationship between dominance and market movement, this indicator helps traders identify when money is flowing into or out of the market.

Using the pane structure on TradingView, the Dominance Momentum Indicator makes it easy to visualize and track data from CryptoCap charts. Whether you're a seasoned investor or starting out, this indicator can help you make more informed trading decisions.

All this indicator does is create the pane with a line chart using the Dominance charts to allow you to see the data with one button instead of doing it all manually. However with the addition to allow it to toggle between crypto and stables, so if you are using a /BTC pair, you don't have to add a new pane on, it automatically converts. If you are looking at USDT pairs for example, it will highlight that one for you.

While it can work under any conditions, the Dominance Momentum Indicator is particularly effective on higher timeframes, providing valuable insight into the overall plot of the market trend. With a 55EMA and a faster-moving average of 21EMA, this indicator is designed to help you stay ahead of the curve and make smarter trading decisions.

Remember the golden rule for stablecoin dominance. Down = good, and up = bad; however, you can just invert the indicator, so it flows with the market.

When it comes to the dominance of individual cryptocurrencies, for example, DOT.D, you might find that it going up = increasing dominance is STRENGTH. If the dominance of that is increasing it means it's growing.

Creator Credit: Jamie Goodland

Note di rilascio

Allows you to see each individual dominance dependant on what pair you are on. For example, the top pane will now show BTC.D if you are on a BTC Pair; it will also support ETH, BNB and USDT for all stablecoins as dominance.

Note di rilascio

Fixed error on line 20 displaying dominance ema incorrectly.

Note di rilascio

Stops it displaying incorrect data on USD pairs, it just displays nothing.

Note di rilascio

Change of title so it all matches + Image.

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.

Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.

CryptoMobster

Your Intro To Cryptocurrency Investing & Trading Success...

Learning Crypto: learningcrypto.co.uk

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