This oscillator gives insight into the state of the coin market. When people exchange their digital currencies like BTC and Altcoins for USDT, there is low confidence in the market. The opposite is true when BTC and Altcoins are bought because market sentiment is high.
So when USDT dominance rises, cryptocurrency prices fall, but when their dominance falls, cryptocurrency prices rise.
- Can be displayed as a moving average (default) or histogram.
- Choice between 'CRYPTOCAP:USDT', 'CRYPTOCAP:USDT.D', 'CRYPTOCAP:OTHERS.D' => CRYPTOCAP:USDT.D is default.
- Smoothing types Selectable
- Upward and downward trend of MA line can be activated
- Extensive style settings
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.