This indicator shows absolute and/or normalized for an asset, allows for more accurate based comparisons (like a log scale for ).
is measured in coins traded, not USD traded, so direct comparisons of different price moves may not be accurate.
Professional traders usually compare absolute or normalized volumes of trend moves/spikes/dips/capitulation events instead.
When the USD price of an asset is lower you can trade more coins but capitalization won't be as significant as when there are less coins for a higher price.
Similarly, you can normalize using:
- price/price ma (to get a bit of a price-weighted ) or
- ma to compare it with its average assuming the total is a percentage above or below the MA (100% or 1).
- use alpha multiplier to add/lose a few zeroes if necessary
- Use Absolute Price Value (Price * ) of an asset instead of Coins Traded ( ) to compare capitalization
- Normalize using Price / Price MA / MA
- Supports any existing type of MA: , , , etc
- Oscillator mode with negative axis
- Highlight high spikes above MA or hide low bars below MA
- Change color based on prev Close or bars
- Change MA color based on a number of last rising/falling bars
- Display as 1000s, mlns, or blns using alpha multiplier
1. uses plot* and custom functions
2. swma has a fixed length = 4, and linreg have additional offset and smoothing params
Feel free to use. Good Luck!