mcbw_

Bitcoin momentum correlation

This is a pretty simple indicator, it measures the momentum of bitcoin as compared to usd,eur,eth,dash, and ltc, which you can see in all of the blue lines. If the red line is above zero then it means the overall value of btc is going up, opposite for down. The Ema_window controls how smooth the signal is. If you shorten the Ema_window parameter and open this on higher timeframe btc charts then the zero crossing gives pretty solid signals, despite being pretty choppy. A good way to interpret this is that if all the blue lines are moving in the same direction at once without disagreement, then the value of bitcoin has good momentum.



Mildly more technically:
Momentum is measured in the first derivative of an EMA for each ticker. To normalize the different values against each other they are all divided by their local maximums, which can be chosen in the parameter window, but shouldn't make a huge difference. All the checked values are then summed, as shown in the red line. To include a value into the red line simply keep it checked. Take a look at the script, it's kind of easy on the eyes.

It's pretty handy to look at, but doesn't seem too worthwhile to pursue much further. If someone wants much more out of the script then feel free to message me.

Remember rules #1 & #2
Don't lose money.
Happy trading
Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Vous voulez utiliser ce script sur un graphique ?