Crypto BaseBTC RSI (Auto)

Indicator Overview

This script is a crypto-specific RSI indicator that automatically derives the base asset from the current trading pair (for example, ETHUSDT or ETHUSDT.P) and then calculates RSI using the corresponding BTC pair on Binance (for example, BINANCE:ETHBTC).

It is designed to help you monitor relative strength versus BTC while trading USDT-based markets.

Key Features

• Automatic symbol mapping: Extracts the base asset from the chart symbol and references BINANCE:BASEBTC.
  
• RSI calculated on BTC pair: RSI is computed from the BTC-denominated market instead of the current quote currency.
  
• Color-coded RSI line:
  RSI > 70 → Red (Overbought)
  RSI < 30 → Green (Oversold)
  Otherwise → Gray (Neutral)
  
• Extreme-zone candle coloring: Candles are colored when RSI enters overbought or oversold conditions.
  
• Built-in alert conditions: Supports 4 alert types based on RSI crossing key levels.
  

Alert Types Included

• RSI Cross Up 70 (Entering Overbought)
  
• RSI Cross Down 70 (Exiting Overbought)
  
• RSI Cross Down 30 (Entering Oversold)
  
• RSI Cross Up 30 (Exiting Oversold)
  

These alerts can be selected directly in TradingView’s Alert creation menu.

How to Use

• Add the indicator to any crypto chart such as ETHUSDT, SOLUSDT, or perpetual variants like ETHUSDT.P.
  
• The script will automatically reference the BTC pair on Binance:
  Example: ETHUSDT → RSI source becomes BINANCE:ETHBTC
  
• Watch the RSI panel for overbought/oversold signals relative to BTC strength.
  
• Enable candle coloring if you want extreme RSI conditions highlighted on the main chart.
  
• Create alerts in TradingView:
  
  • Open Alerts → Select this indicator → Choose one of the 4 RSI crossing conditions
    

Practical Interpretation

• RSI > 70 on BASEBTC may indicate the asset is overextended versus BTC.
  
• RSI < 30 on BASEBTC may indicate the asset is weak versus BTC and potentially due for a rebound.
  
• This provides a BTC-relative momentum view even when trading USDT markets.