Total cryptocurrency market capitalization without tether, with alerts for chosen value thresholds.
The rationale is that tether is a printed supply stablecoin with a fixed value; there is no need to include its value in a combined market cap. It's debatable if that's true, but that doesn't explain what this indicator is.
The second part of this indicator is highlighting when the aforementioned adjusted market cap is above or below certain values. They are round numbers; a psychological factor. A psyop, if you will.
Options to configure are the lower and upper bound and colors. The alerts must be manually turned on, as usual.
The rationale is that tether is a printed supply stablecoin with a fixed value; there is no need to include its value in a combined market cap. It's debatable if that's true, but that doesn't explain what this indicator is.
The second part of this indicator is highlighting when the aforementioned adjusted market cap is above or below certain values. They are round numbers; a psychological factor. A psyop, if you will.
Options to configure are the lower and upper bound and colors. The alerts must be manually turned on, as usual.
Versionsinformation:
Update variable naming convention, change colors
Versionsinformation:
Added a toggle for bar coloring.
This update is mainly to make a note on the utility of this: while it is accurate now, eventually the market cap will explode in a direction, likely to the upside. Take heed of the trend.
This update is mainly to make a note on the utility of this: while it is accurate now, eventually the market cap will explode in a direction, likely to the upside. Take heed of the trend.
Versionsinformation:
The hit rate of this has been interesting, so I am updating it to share what I've found. Anyone want to take a guess when it'll stop working?
Updates:
From what I can tell, the new market cap range without tether is 2250 - 2500. Add billions for zeroes as needed.
Added a mid point horizontal line that serves as support and resistance. It will adjust to your upper and lower threshold, if you choose to change it. There is an alert condition that has been added for mid point crossing too.
Added an option to exclude USDC.
Changed market cap price source to be low under the mid point and high over the mid point. This will make it so that wicks won't be missed from the threshold, since market cap could close within the threshold.
Some pictures of reactions to above/below threshold:
Updates:
From what I can tell, the new market cap range without tether is 2250 - 2500. Add billions for zeroes as needed.
Added a mid point horizontal line that serves as support and resistance. It will adjust to your upper and lower threshold, if you choose to change it. There is an alert condition that has been added for mid point crossing too.
Added an option to exclude USDC.
Changed market cap price source to be low under the mid point and high over the mid point. This will make it so that wicks won't be missed from the threshold, since market cap could close within the threshold.
Some pictures of reactions to above/below threshold:
Versionsinformation:
Added highlighting for midpoint crossing
Versionsinformation:
Updates:
Included option to display as candles
Toggle midpoint highlight
Added additional lines you can plot so they're consistent across all charts
Included option to display as candles
Toggle midpoint highlight
Added additional lines you can plot so they're consistent across all charts
My published indicators: www.tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)