Hello traders,
This script provides a background color for the major stablecoins with directional bias above and below 1.
Generally, it's considered market beneficial if USDT is over one , and generally a market deficit if USDT is under 1. These are of course theoretical and shouldn't be taken solely into account.
Indicator includes biases for:
- USDT
- USDC
- DAI
- BUSD
- Average of two major stables
Warning: Tradingview's background color function seems graphically intensive. I don't recommend more than one or two biases active simultaneously, as it will slow down your chart and create mouse lag.
Cheers
This script provides a background color for the major stablecoins with directional bias above and below 1.
Generally, it's considered market beneficial if USDT is over one , and generally a market deficit if USDT is under 1. These are of course theoretical and shouldn't be taken solely into account.
Indicator includes biases for:
- USDT
- USDC
- DAI
- BUSD
- Average of two major stables
Warning: Tradingview's background color function seems graphically intensive. I don't recommend more than one or two biases active simultaneously, as it will slow down your chart and create mouse lag.
Cheers
Versionsinformation:
Added optional ticker input for main USDT pair and option for average USDT across pairs . Changed from greater than to equal or greater than.