INVITE-ONLY SCRIPT
[Bitnalysis] Altcoin Season Indicator
The Altcoin Season Indicator compares performance of Bitcoin with the performance of the top altcoins over a specified period. The indicator weights the results, giving greater weight to the first specified altcoins. By default, the larger market cap altcoins, such as ETH, BNB, ADA, etc., are included first and therefore given greater weight in the algorithm. To remove the weighting from the formula and consider the performance of all listed altcoins equally, set the weighting setting to "0".
The output shows to what extent altcoins are outperforming Bitcoin; the higher the number, the more altcoins are outperforming Bitcoin. This indicator helps traders predict when "altcoin season" is about to begin or end.
The output shows to what extent altcoins are outperforming Bitcoin; the higher the number, the more altcoins are outperforming Bitcoin. This indicator helps traders predict when "altcoin season" is about to begin or end.
Invite-only script
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