OPEN-SOURCE SCRIPT
market rsi vs chart rsi
🔍 Key Features:
- Aggregate RSI Sentiment: Measures average momentum across major crypto assets including BTC, ETH, SOL, and others.
- Custom Weighting Options: Choose between equal weighting, volume-based, or market cap-based influence.
- Dual RSI Display:
- Chart RSI: Line plot with color-coded overbought/oversold zones.
- Market RSI: Circular markers for added clarity.
- Dynamic Background Alerts: Highlights periods of collective bullish or bearish pressure.
🎯 Use Cases:
- Spot market-wide divergences.
- Detect chart-specific outliers in momentum.
- Improve decision-making for entries and exits by overlaying local RSI against macro signals.
Not financial advice. Only for crypto trading.
- Aggregate RSI Sentiment: Measures average momentum across major crypto assets including BTC, ETH, SOL, and others.
- Custom Weighting Options: Choose between equal weighting, volume-based, or market cap-based influence.
- Dual RSI Display:
- Chart RSI: Line plot with color-coded overbought/oversold zones.
- Market RSI: Circular markers for added clarity.
- Dynamic Background Alerts: Highlights periods of collective bullish or bearish pressure.
🎯 Use Cases:
- Spot market-wide divergences.
- Detect chart-specific outliers in momentum.
- Improve decision-making for entries and exits by overlaying local RSI against macro signals.
Not financial advice. Only for crypto trading.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.