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Altcoins vs BTC Market Cap Heatmap
Altcoins vs BTC Market Cap Heatmap
"Ground control to major Tom" 🌙 👨🚀 🚀
This indicator provides a visual heatmap for tracking the relationship between the market cap of altcoins (TOTAL3) and Bitcoin (BTC). The primary goal is to identify potential market cycle tops and bottoms by analyzing how the TOTAL3 market cap (all cryptocurrencies excluding Bitcoin and Ethereum) compares to Bitcoin’s market cap.
Key Features:
• Market Cap Ratio: Plots the ratio of TOTAL3 to BTC market caps to give a clear visual representation of altcoin strength versus Bitcoin.
• Heatmap: Colors the background red when altcoins are overheating (TOTAL3 market cap equals or exceeds BTC) and blue when altcoins are cooling (TOTAL3 market cap is half or less than BTC).
• Threshold Levels: Includes horizontal lines at 1 (Overheated), 0.75 (Median), and 0.5 (Cooling) for easy reference.
• Alerts: Set alert conditions for when the ratio crosses key levels (1.0, 0.75, and 0.5), enabling timely notifications for potential market shifts.
How It Works:
• Overheated (Ratio ≥ 1): Indicates that the altcoin market cap is on par or larger than Bitcoin's, which could signal a top in the cycle.
• Cooling (Ratio < 0.5): Suggests that the altcoin market cap is half or less than Bitcoin's, potentially signaling a market bottom or cooling phase.
• Median (Ratio ≈ 0.75): A midpoint that provides insight into the market's neutral zone.
Use this tool to monitor market extremes and adjust your strategy accordingly when the altcoin market enters overheated or cooling phases.
"Ground control to major Tom" 🌙 👨🚀 🚀
This indicator provides a visual heatmap for tracking the relationship between the market cap of altcoins (TOTAL3) and Bitcoin (BTC). The primary goal is to identify potential market cycle tops and bottoms by analyzing how the TOTAL3 market cap (all cryptocurrencies excluding Bitcoin and Ethereum) compares to Bitcoin’s market cap.
Key Features:
• Market Cap Ratio: Plots the ratio of TOTAL3 to BTC market caps to give a clear visual representation of altcoin strength versus Bitcoin.
• Heatmap: Colors the background red when altcoins are overheating (TOTAL3 market cap equals or exceeds BTC) and blue when altcoins are cooling (TOTAL3 market cap is half or less than BTC).
• Threshold Levels: Includes horizontal lines at 1 (Overheated), 0.75 (Median), and 0.5 (Cooling) for easy reference.
• Alerts: Set alert conditions for when the ratio crosses key levels (1.0, 0.75, and 0.5), enabling timely notifications for potential market shifts.
How It Works:
• Overheated (Ratio ≥ 1): Indicates that the altcoin market cap is on par or larger than Bitcoin's, which could signal a top in the cycle.
• Cooling (Ratio < 0.5): Suggests that the altcoin market cap is half or less than Bitcoin's, potentially signaling a market bottom or cooling phase.
• Median (Ratio ≈ 0.75): A midpoint that provides insight into the market's neutral zone.
Use this tool to monitor market extremes and adjust your strategy accordingly when the altcoin market enters overheated or cooling phases.
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這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。