This script provides a background color for the major stablecoins with directional bias above and below 1.
Generally, it's considered market beneficial if USDT is over one [$1], and generally a market deficit if USDT is under 1. These are of course theoretical and shouldn't be taken solely into account.
Indicator includes biases for: - USDT - USDC - DAI - BUSD - Average of two major stables [Excludes BUSD and has option to include DAI]
Warning: Tradingview's background color function seems graphically intensive. I don't recommend more than one or two biases active simultaneously, as it will slow down your chart and create mouse lag.
Cheers
Release Notes
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Added optional ticker input for main USDT pair and option for average USDT across pairs [mean]. Changed from greater than to equal or greater than.