Crypto Breadth ALTSBTC [MarktQuant]

This Crypto Breadth ALTSBTC indicator measures the market breadth of major altcoins against Bitcoin (BTC) by comparing their closing prices to their 50-period Exponential Moving Average (EMA).

Each altcoin pair (e.g., BNBBTC, XRPBTC) is assigned a score of 1 if its price is above the EMA, or 0 if below. The indicator displays: A line plot of the total score, color-coded using a gradient to reflect market strength (green for lower scores, transitioning to red for higher scores).

A 7-period EMA of the total score for trend smoothing, shown in white.
Colored bars based on the total score, overlaid on the chart.
Horizontal lines marking key zones:

• Zero (0)
  
• Distressed (20)
  
• Defensive (40)
  
• Equilibrium (60)
  
• Accumulation (80)
  
• Expansion (100)
  

Filled color bands to highlight these ranges.

The indicator provides a visual representation of altcoin strength relative to Bitcoin, helping traders identify market trends and potential opportunities. The EMA length is customizable (default: 50).