Cryptocurrency Market Sentiment v1.0

  • Capable of observing the market sentiment of the cryptocurrency market
  • The relative status of BTC and altcoins

How it works:
1. The general uptrend process of the cryptocurrency market is BTC → ETH → high-cap altcoins → low-cap altcoins. When funds cannot push up BTC's market cap, funds gradually flow into smaller-cap altcoins until the upward trend ends.
2. Select ETH as the representative of altcoins, and understand the sentiment and current stage
3. Mathematical principle : divide the price of ETH by the price of BTC, and then apply it to the RSI formula .

How to use it:
1. Similar to the RSI indicator , when CMS enters the overbought zone, it represents an active altcoin market, a passionate market sentiment , and the end of the uptrend.
2. When CMS enters the oversold zone, it indicates the leading stage of BTC in the rising trend or the capital flow back to BTC in the declining process .
3. If CMS is at a low level, long positions should focus on altcoins, and short positions should focus on BTC, and vice versa.


  • 能够观察加密市场市场情绪
  • BTC和寨币的相对状态

1、加密市场一般的上涨过程为 BTC → ETH → 大市值山寨 → 小市值山寨,当资金无法推动大市值的BTC上涨时,资金就会逐渐流向市值较小的山寨,直到一轮上涨结束。


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 a publication is governed by House Rules. You can favorite it to use it on a chart.


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.

Want to use this script on a chart?