OPEN-SOURCE SCRIPT
3GBH - DOMindex v1
This indicator has rsi-sourced HMA's of the dominance of key-market-players,
vs the current symbol you're viewing.
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We monitor the dominance of ( symbols )
- BTC.D
- ETH.D
- OTHERS.D
and whichever symbol you are currently viewing.
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It may be useful in some scenarios to see the trend of the average-of-overall-momentum,
compared to a symbol you are doing technical analysis on.
In my thinking, if the momentum of the current symbol is greater than that of the average
of the key-players, it may be in a stronger trend where price-action may be more favorable
for traders.
vs the current symbol you're viewing.
-----
We monitor the dominance of ( symbols )
- BTC.D
- ETH.D
- OTHERS.D
and whichever symbol you are currently viewing.
-----
It may be useful in some scenarios to see the trend of the average-of-overall-momentum,
compared to a symbol you are doing technical analysis on.
In my thinking, if the momentum of the current symbol is greater than that of the average
of the key-players, it may be in a stronger trend where price-action may be more favorable
for traders.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.