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 author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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