It's a simple oscillator but could be useful if you want to use it as a stepping stone to creating your own index.
You can use this to make your own index if you want. It should be quite simple to copy my code and make a new indicator in the pine editor and change the security requests.
Lets say you want to change Ethereum to XRP
eth = request.security('ETHUSDT', timeframe.period, close, lookahead=barmerge.lookahead_on)
just change the symbol name like this:
eth = request.security('XRPUSDT', timeframe.period, close, lookahead=barmerge.lookahead_on)
If you want to create a new one just look at the total and total2 that i made as an example.
Remove // in front of
//total = request.security('TOTAL', timeframe.period, close, lookahead=barmerge.lookahead_on)
//total_rsi = ta.rsi(total,rsi_persiod)
//plot(total_rsi, color=color.new(color.yellow, 0), title="Total including bitcoin")
Contact me if you have any questions or if you have any good ideas on how I could do anything with this. What index could be fun to make?
if you consider donating:
ETH (ERC20): 0xb392f5f58bd10de374736ac337cfd9635cd92d20
XRP MEMO: 102109716
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 a publication is governed by House Rules. You can favorite it to use it on a chart.