This script calculates the BTC dominance and adds markers as overlays on top of your crypto chart.
A red "D" means "BTC dominating" and an orange "S" means "BTC submissive". In both cases further price actions are imminent.
You can use this script for any crypto asset to see how it performs while btc is dominating.
If you are for example trading a BTC paired asset, then this can give you a warning if BTC starts to dominate (BTC paired assets tend to dump if BTC dominates).
On the other hand, you can use this as signal on USD paired cryptos if BTC dominates as USD paired cryptos tend to go with BTC.
It is recommended to use additional indicators with this as it is not meant as buy/sell signalling tool.
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v 1.0.1: +added label titles
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v 1.0.2 #changed title image to bitcoin 1y
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# fixed an issue where the dominance signal would potentially occur too late
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# fixed title screen (happened after the last version update)
dear CS
I can't understand the logic of indicating D or S. when I compare the D/S signals on the BTC.D chart, there is a contradiction particularly in some points. I would appreciate it if you can explain to me the indicator
fondOrange28771
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It would make sense to create this indicator in comparison to each specific asset instead of overall BTC.D or simply create an indicator showing how far from correlation to BTC the altcoin asset went.
CoinStudio
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Please note that this indicator also shows that BTC clearly correlates with non-crypto assets and charts, example DIJ:
I can't understand the logic of indicating D or S. when I compare the D/S signals on the BTC.D chart, there is a contradiction particularly in some points. I would appreciate it if you can explain to me the indicator