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Stable Coin Dominance RSI
The Stable Coin Dominance RSI evaluates the relative dominance of stable coins within the crypto ecosystem as compared to the total market cap. As stable coin dominance rises, it suggests that market participants are exiting out of crypto assets and into dollar pegged stable coins. The opposite is true inversely; as stable coin dominance diminishes, it suggests that market participants are divesting out of stable coins and into crypto assets.
Stable coin dominance can be expressed as a percentage of the total market cap as follows: Stable Coins / Total Crypto. The Stable Coin Dominance RSI indicator uses this percentage and converts it into an oscillator using the formula for the relative strength index.
The calculation for the indicator is: RSI [ (USDT + USDC) / (BTC + ALTS) ]
The users can select from USDT and USDC, two most dominant stable tokens by market cap, and compare their relative dominance against Bitcoin and the alt market.
The Stable Coin Dominance RSI may be useful on larger timeframes when attempting to identify the market’s appetite for risk along with oversold and undersold readings which may indicate pivots or turn arounds along market extremes.
The limitation of the indicator lies in the fact that stable coins continue to make up a growing percentage of the total market cap over time and thus comparisons to earlier cycles will not be a perfect apples-to-apples evaluation. This being said, the smoothing function of the RSI’s look back helps to moderate these comparative differences.
Stable coin dominance can be expressed as a percentage of the total market cap as follows: Stable Coins / Total Crypto. The Stable Coin Dominance RSI indicator uses this percentage and converts it into an oscillator using the formula for the relative strength index.
The calculation for the indicator is: RSI [ (USDT + USDC) / (BTC + ALTS) ]
The users can select from USDT and USDC, two most dominant stable tokens by market cap, and compare their relative dominance against Bitcoin and the alt market.
The Stable Coin Dominance RSI may be useful on larger timeframes when attempting to identify the market’s appetite for risk along with oversold and undersold readings which may indicate pivots or turn arounds along market extremes.
The limitation of the indicator lies in the fact that stable coins continue to make up a growing percentage of the total market cap over time and thus comparisons to earlier cycles will not be a perfect apples-to-apples evaluation. This being said, the smoothing function of the RSI’s look back helps to moderate these comparative differences.
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开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。