OPEN-SOURCE SCRIPT
Updated Speculation Index š
This script is a recreation of Charles Edwards' 'Speculation Index' indicator (found on Capriole Investments).
It tracks the average of altcoins with 90-day (or custom period) returns greater than Bitcoin. Higher scores mean that more altcoins are outperforming Bitcoin. Lower scores mean that Bitcoin is outperforming altcoins.
This script includes 39 altcoins with history dating back to 2021. This means any results prior to 2021 will have a sample size smaller than 40.
Like the Crypto Breadth indicator that I published, I've included a normalization function. Because this script only tracks 39 altcoins ā due to Pine Script capabilities ā the Speculation Index skews to the left, as many of the tokens have been created later in Cryptocurrency history. However, the addition of the normalization function aims to solve this.
Please let me know if you come across any problems while using this script.
- Dugald š
It tracks the average of altcoins with 90-day (or custom period) returns greater than Bitcoin. Higher scores mean that more altcoins are outperforming Bitcoin. Lower scores mean that Bitcoin is outperforming altcoins.
This script includes 39 altcoins with history dating back to 2021. This means any results prior to 2021 will have a sample size smaller than 40.
Like the Crypto Breadth indicator that I published, I've included a normalization function. Because this script only tracks 39 altcoins ā due to Pine Script capabilities ā the Speculation Index skews to the left, as many of the tokens have been created later in Cryptocurrency history. However, the addition of the normalization function aims to solve this.
Please let me know if you come across any problems while using this script.
- Dugald š
Release Notes
-Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.