ALT to BTC Evaluation

24 Nis 2024

This custom TradingView indicator, titled "Price Relative to BTC Index", allows users to visualize the price of any selected asset relative to Bitcoin. It achieves this by comparing the closing price of the current ticker to the closing price of Bitcoin as measured by a prominent BTC index. The resulting relative price is then plotted on the chart, providing a clear and direct visual representation of how the asset is performing in comparison to Bitcoin. The plot is displayed in blue with a line width of 2, ensuring that it stands out on your trading charts. This indicator is especially useful for traders looking to assess market sentiment and relative strength between Bitcoin and other assets in real-time.

7 Şub

Sürüm Notları

Divides your ticker by the price of bitcoin to give you a ratio that many of us refer as a "Bitcoin evaluation". It should give you insight on how that ticker is performing relative to the value of bitcoin and can offer an understanding beyond traditional analysis.