Crypto-Adjusted Relative Strength Index (CARSI)
Great for use on alt coins to identify moons.
Request use in the comments :)
This RSI is adjusted to give weight to the performance of the 6 largest Cryptocurrencies by market-cap.
This is the Crypto-Index that affects the moving average.
Bitcoin
Ethereum
Bitcoin Cash
Ripple
Litecoin
Nem Coin.
The use of this indicator is to observe divergence between the price of the underlying asset that is the basis of your chart, and the rest of the Crypto-currency market.
The black line is the Relative Strength Index performance of the Crypto-Index, and the red and blue clouds, show how far the Crypto-Index sits away from the Relative Strength Index of the observed chart.
If more Crypto-currencies go down while your observed currency goes up, the CARSI will sit lower and a blue pool will become visible showing that that the chart is performing better than the Crypto-Index listed above. If more Crypto-currencies go up while your observed currency goes down, the CARSI will sit higher and a red cloud will form, showing that the chart is performing worse than the Crypto-weighted Index.
The indicator uses only one variable that can be changed.
"RSI_Length" = This is the length of the RSI and is set to 15 by default.
This RSI can be applied to any Crypto-currency and ANY time-frame!
Great for use on alt coins to identify moons.
Request use in the comments :)
This RSI is adjusted to give weight to the performance of the 6 largest Cryptocurrencies by market-cap.
This is the Crypto-Index that affects the moving average.
Bitcoin
Ethereum
Bitcoin Cash
Ripple
Litecoin
Nem Coin.
The use of this indicator is to observe divergence between the performance of the underlying asset that is the basis of your chart, and the rest of the Crypto-currency market.
The black line is the Relative Strength Index performance of the Crypto-Index, and the red and blue clouds show how far the Crypto-Index sits away from the Relative Strength Index of the observed chart.
If more Crypto-currencies go down while your observed currency goes up, the CARSI will sit lower and a blue pool will become visible showing that that the chart is performing better than the Crypto-Index listed above. If more Crypto-currencies go up while your observed currency goes down, the CARSI will sit higher and a red cloud will form, showing that the chart is performing worse than the Crypto-weighted Index.
The indicator uses THREE variables that can be changed:
"RSI_Length" = This is the length of the RSI and is set to 15 by default.
"OverBought" = This is the level as to which the horizontal red line will sit that identifies an over-bought zone. If either of the RSI's sit above this zone, a steep rally has occurred and is likely exhausted. A bearish retracement down from this zone can be assumed. The OverBought zone is set to 70 by default.
"OverSold"= This is the level as to which the horizontal blue line will sit that identifies an over-sold zone. If either of the RSI's sit above this zone, a strong sell-off has occurred and is likely exhausted. A bullish retracement up from this zone can be assumed. The OverSold zone is set to 30 by default.
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact GrantPeace directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
kenzing.com
Disclaimer
Invite-only script
Only users authorized by the author have access to this script, and this usually requires payment. You can add the script to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author — learn more here. For more details, follow the author's instructions below or contact GrantPeace directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
kenzing.com