OPEN-SOURCE SCRIPT
Updated Crypto Breadth š
This script is a recreation of Charles Edwards' 'Crypto Breadth' indicator (found on Capriole Investments).
It tracks how many altcoins, on average, are above and below their 50- and 200-day moving averages.
This script includes 40 altcoins with history dating back to 2021. This means any results prior to 2021 will have a sample size smaller than 40.
You may notice that I've included a normalization function for both the 50- and 200-day averages (although the 200-day is off by default). Because this script only tracks 40 altcoins ā due to Pine Script capabilities ā the 50-day average 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 how many altcoins, on average, are above and below their 50- and 200-day moving averages.
This script includes 40 altcoins with history dating back to 2021. This means any results prior to 2021 will have a sample size smaller than 40.
You may notice that I've included a normalization function for both the 50- and 200-day averages (although the 200-day is off by default). Because this script only tracks 40 altcoins ā due to Pine Script capabilities ā the 50-day average 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
Fixed DescriptionsRelease Notes
Adjusted ColouringRelease Notes
-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.