OPEN-SOURCE SCRIPT
3GBH - CapMap v1
Updated
This indicator compares the RSI of the symbol you're viewing against;
- TOTAL ( market cap of the entire cryptocurrency market )
- TOTAL2 ( market cap of the entire cryptocurrency market excluding BTC )
- BTCs market cap
- ETHs market cap
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This helps to track the trend of a certain symbol and to quickly see how it's performing in contrast to key market players ( BTC & ETH ).
It also allows you to see the current state of the crypto market as a whole.
I tend to use TOTAL & TOTAL2 for technical analysis on BTC, and BTC & ETH for technical analysis on alt-coins.
- TOTAL ( market cap of the entire cryptocurrency market )
- TOTAL2 ( market cap of the entire cryptocurrency market excluding BTC )
- BTCs market cap
- ETHs market cap
-----
This helps to track the trend of a certain symbol and to quickly see how it's performing in contrast to key market players ( BTC & ETH ).
It also allows you to see the current state of the crypto market as a whole.
I tend to use TOTAL & TOTAL2 for technical analysis on BTC, and BTC & ETH for technical analysis on alt-coins.
Release Notes
- Added in 2 sets of Fast/Slow HMA's- the ' HMA - players ' sources are based on the RSI values excluding the current symbol you're viewing. ( Lighter Shade )
( TOTAL, TOTAL2, BTC and ETH )
- the ' HMA - all ' sources are based on the RSI values including the current symbol you're viewing. ( Darker Shade )
( TOTAL, TOTAL2, BTC, ETH and CURRENT SYMBOL )
If you are only using one set of the HMA's, make sure you are using the Fast and Slow from the same set.
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This will help me to see the overall-average trend of the crypto market as a whole.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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