🔗Blockchain Fundamentals - Marketcap Multiple by Cryptorhythms

2019年11月12日

🔗Blockchain Fundamentals - Marketcap Multiple by Cryptorhythms

Intro
A brand new original indicator to judge long term bitcoin accumulation and distribution zones. Created by myself - theheirophant.

I love the way the indicator MVRV (market value to realized value) works, but there's no way to replicate it on tradingview as it uses outside data not available in the TV ecosystem. Then while looking at various marketcap alternatives, and idea was plain in front of my face!

Looking at marketcap + top cap + average cap creates a bounded area of price as seen here



Description
So I created an oscillator that shows marketcap's relation to top cap as the upper bound, and average cap as the lower bound. It then is rescaled from 0.25 to 10.

It should be viewed on a logrithmic scale and only works on the daily timeframe. You can enable/disable bar coloration and background highlighting from options.

It can be interpreted as times to accumulate and distribute on a long term basis. It would work well for trading spot markets.

The line at 0.75 acts as a sentiment indicator (above it is bullish, below it is bearish).

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