OPEN-SOURCE SCRIPT
Decentr Top Cap, Mid Cap and Bottom Market Cap Bands [jcray]
Market cap bands for Decentr. Modified from Top Cap for BTC by aamonkey.
Use only with the YTD timeframe.
Please see similar scripts that I have published for other crypts such as Uniswap, Ethereum, Bitcoin, and Holo.
The Top Cap and Bottom Cap uses the same formula as the Top Cap and Average Cap by aamonkey.
The Top Cap (red line) can be seen as an absolute market top that may never be significantly exceeded and so is a good indicator to sell a position, or enter a long-term short-sell.
The "Mid Cap" (yellow line) can be used as an indicator for market sentiment. It is calculated as the average of the Top Cap and Bottom Cap. Above the mid cap, the market is in a bullish environment, and below it, the market is in a bearish environment. Note that the cryptocurrency may be in a bull run while in a bearish environment, and conversely it may be experiencing a correction or reversal in a bullish environment.
The "Bottom Cap" (blue line) can be seen as an absolute market bottom that may never be fallen short of, and so is a good indicator to enter a long-term buying opportunity, or exit a long-term short-sell.
See also my other scripts:
- as mentioned, ETH Top, Mid and Bottom Cap Bands bit ly ethcaps
- Holo/HOT Top, Mid and Bottom Caps / Cap Bands bit ly hottcmc
- Uni Top Cap
From Average Cap by aamonkey:
----
This is the "forever" moving average of the Market Cap.
The cumulative sum of the daily Market Cap values divided by the age of the market in days.
Can be seen as an ultimate bottom that should never be touched and if so is a good buying opportunity.
The default settings are for BTC .
If you want to test this indicator on another chart you have to change the launch date settings (and maybe play around with the multiplier).
Some Interesting Launch dates:
- BTC: 3 JAN 2009
- ETH: 30. JUL 2015
- LTC: 7. OCT 2011
This indicator is also the base for other indicators like my "Top Cap" indicator.
----
From Top Cap by aamonkey:
----
Historically matched market tops for BTC .
It's the Average Cap (see my other indicator) multiplied by 35.
The default settings are for BTC .
If you want to test this indicator on another chart you have to change the launch date settings (and maybe play around with the multiplier).
Some Interesting Launch dates:
- BTC: 3 JAN 2009
- ETH: 30. JUL 2015
- LTC: 7. OCT 2011
----
Use only with the YTD timeframe.
Please see similar scripts that I have published for other crypts such as Uniswap, Ethereum, Bitcoin, and Holo.
The Top Cap and Bottom Cap uses the same formula as the Top Cap and Average Cap by aamonkey.
The Top Cap (red line) can be seen as an absolute market top that may never be significantly exceeded and so is a good indicator to sell a position, or enter a long-term short-sell.
The "Mid Cap" (yellow line) can be used as an indicator for market sentiment. It is calculated as the average of the Top Cap and Bottom Cap. Above the mid cap, the market is in a bullish environment, and below it, the market is in a bearish environment. Note that the cryptocurrency may be in a bull run while in a bearish environment, and conversely it may be experiencing a correction or reversal in a bullish environment.
The "Bottom Cap" (blue line) can be seen as an absolute market bottom that may never be fallen short of, and so is a good indicator to enter a long-term buying opportunity, or exit a long-term short-sell.
See also my other scripts:
- as mentioned, ETH Top, Mid and Bottom Cap Bands bit ly ethcaps
- Holo/HOT Top, Mid and Bottom Caps / Cap Bands bit ly hottcmc
- Uni Top Cap
From Average Cap by aamonkey:
----
This is the "forever" moving average of the Market Cap.
The cumulative sum of the daily Market Cap values divided by the age of the market in days.
Can be seen as an ultimate bottom that should never be touched and if so is a good buying opportunity.
The default settings are for BTC .
If you want to test this indicator on another chart you have to change the launch date settings (and maybe play around with the multiplier).
Some Interesting Launch dates:
- BTC: 3 JAN 2009
- ETH: 30. JUL 2015
- LTC: 7. OCT 2011
This indicator is also the base for other indicators like my "Top Cap" indicator.
----
From Top Cap by aamonkey:
----
Historically matched market tops for BTC .
It's the Average Cap (see my other indicator) multiplied by 35.
The default settings are for BTC .
If you want to test this indicator on another chart you have to change the launch date settings (and maybe play around with the multiplier).
Some Interesting Launch dates:
- BTC: 3 JAN 2009
- ETH: 30. JUL 2015
- LTC: 7. OCT 2011
----
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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