p2pasta

Price DEFI Categories against BTC & ETH

/* Work in progress. The indicator is not finished. *\

The indicator shows the pricing of 3 DEFI categories against 2 possible baselines, BTC and ETH.

To do:
* Make a simple array in the source code to enter and remove new projects to the category. -> Maybe can also make it so that the source code does not have to be altered (projects can be added through input etc.)
* Adjust weightings depending on project data but this is not as important since weightings are being priced in by the market.
* Try to find a way to update input to string instead of booleans. As of currently, I could not seem to use input strings into plot functions because of an error.
* and more. Leave some feedback, that would be highly appreciated!
Release Notes: V1.1

- Updated the title -> "DEFI against Majors" -> D.A.M 1.1
- Added subcategory 'Derivatives'
- Changed transparency (from 20 to 80) of the plot backgrounds
Release Notes: - Changed baseline default value to Ethereum
- Changed boolean input for baseline to choice between strings.
Release Notes: V1.2

- Updated user input. Added boolean (true/false) to give the option to disable certain categories.
- Added comments to the source code so it is easier to read for people that want to mess around with it.
Release Notes: V1.3

* Eco system mode
- Added most of the big DEFI projects from two spaces: Ethereum & Solana. I used the maps that can be found here: (https:// pentacle .ai)
- I chose to leave some out of the equation due to maturity of the chart; I can't really average a chart on 30 day lookback if it has just been listed 14 days capiche?

ETH DEFI SUPPORTED PROJECTS:
Compound, Harvest Finance, Yearn Finance, 0x, Aave, Badger DAO, Alpha Finance, Bancor Network, Curve Finance, Maker, Numeraire

SOL DEFI SUPPORTED PROJECTS:
Bonfida, Serum, Hxro


* Changed user input:
- Added seperators for convencience of sight/vision. Still debating whether I should leave or delete again.
- Added lookback (in days) as a reference point. Minimum value of 1 and maximum value of 30 days. On a lookback of 1 it is quite hard to react but you can spot new trends faster. Choose 30 lookback for a good overview of the last month. I advise to use inbetween 7 and 14 for optimal results.
- Added eco system mode which can be toggled on or off. Default value is off. What do you think? Should the indicator work from categories as a base or ecosystem as a base?
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

Great concept! It would be cool to have BNB/BSC indexes too.
Reply
p2pasta AtomOfScent
@AtomOfScent, Thanks for the suggestion! Do you mean BNB as a major against BSC projects? If so, BSC in general or only BSC defi?
Reply
@p2pasta, BNB as a major against BSC defi, but I suppose once the symbols can be selected in the settings users could choose whichever BSC projects they like.
It could also be cool to have a plot which averages all the index averages, it might be useful, or might not.
New update looks nice by the way. :)
Reply
p2pasta AtomOfScent
@AtomOfScent, Alright. BNB as a major against BSC DEFI. Added to my to-do list :)

I don't quite understand what you mean by averaging all the index averages. Like zoom out more? Categorize into ETH DEFI, BSC DEFI etc.?
Reply
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