Relative Estimated Price REP by KIVANÇ fr3762

Relative Estimated Price (REP) Indicator shows the estimated price calculated if the tickerid made the same value changes (in %) during a certain period.
The default value of the lookback period is 50.

In the given XRPUSD chart you can see that XRPUSD has a value of 0.26480 and the RPC indicator shows the value of 0.38099.
This means that XRP would be 0.38099USD if it was fully made the same percentage moves with BTC , we can say that XRP is RELATIVELY cheap according to BTC price moves.

Conversely XRP would be RELATIVELY expensive if the last value of REP was lower then current XRP price.

users can choose the relative base price in calculation of REP between 1-5 which are:

1=BTCUSD, 2=ETHUSD, 3=EURTRY(Euro/Turkish Lira), 4=USDTRY (Dollar/Turkish Lira), 5=BIST100 (Istanbul Stock Exchange)

I personally advise you to use this indicator for daily charts in Tradingview to have more accurate estimated prices because of the website's calculation.


Developed by KIVANÇ

Versionsinformation:

Added two more relative base price 6=EURUSD, 7=NIFTY50 due to some user requests

Versionsinformation:

minor bug correction