always a trader must check the bitcoins Dominance and if its ok can make a deal on AltCoins
this indicator Monitor the BTC.D and check the trend with ATR and give you results
please just check it in 1D timeframe
when the color was white you can easily trade and if the color was red you should be aware the risk and rest or maybe close the deals
Bitcoin Market Cap vs Dominance
- data normalized with RSI
Included in this indicator:
- RSI of BTC Market Cap
- RSI of BTC Dominance
- EMA of BTC Market Cap
- EMA of BTC Domiance
Dominance influences the market. Is money flowing into Bitcoin?
EMA's to help with Technical Analysis.
This script looks at BTC dominance in price-action and scores it (out of the last 100 closed bars). Essentially this looks at the price action of the current security/crypto and tracks whether it traded in-trend with BTC or against the trend with BTC to show when BTC is most prominently dominating.
Currently the code is restricted to the previous 100 trades...