OPEN-SOURCE SCRIPT
ETH Gravity Oscillator
This indicator is a deviation of a Center of Gravity Oscillator corrected for the diminishing returns of Ethereum.
I've set up this indicator for it to be used on the weekly timeframe . The indicator oscillates between 0 and 10, where 0 indicates oversold conditions and 10 indicates overbought conditions. What is interesting is that it is not particularly ideal for identifying market cycle tops, but generally picks out the most euphoric region in the initial parabolic rally. Good to potentially keep in mind if there is a second bounce to the peak!
The indicator plots in any ETH charts. It paints in all time frames, but Weekly time frame is the correct one to interpret the 'official' read of it.
Made at the request of a kind commenter. If you would like to request different derivations of this script be sure to let me know!
I've set up this indicator for it to be used on the weekly timeframe . The indicator oscillates between 0 and 10, where 0 indicates oversold conditions and 10 indicates overbought conditions. What is interesting is that it is not particularly ideal for identifying market cycle tops, but generally picks out the most euphoric region in the initial parabolic rally. Good to potentially keep in mind if there is a second bounce to the peak!
The indicator plots in any ETH charts. It paints in all time frames, but Weekly time frame is the correct one to interpret the 'official' read of it.
Made at the request of a kind commenter. If you would like to request different derivations of this script be sure to let me know!
Açık kaynak kodlu komut dosyası
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 publications is governed by House rules. Bir grafikte kullanmak için favorilere ekleyebilirsiniz.
Bu komut dosyasını bir grafikte kullanmak ister misiniz?
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.