This indicator calculates a proxy for BTC dominance and ALT domance from total crypto cap by removing USDT and USDC. The indicator has 4 plots:
Proxy BTC Dominance = BTC dominance / (total crypto cap - stablecoin cap)
Proxy ALT Dominance = (Total crypto cap - stablecoins - btc cap) / (total crypto cap - stablecoin cap)
A reference plot of BTC Dominance
A...
This simple script applies the DMI/ADX (trend) indicator to the Bitcoin Dominance Index (BTC.D) to check whether BTC is increasing its dominance or not on that day. It is meant to be applied to altcoins on medium intervals. I put it together to test the following hypothesis: On days when BTC dominance is on the rise, altcoins are harder to take off, because...
