RSI correlation with cryptoindices [strategy version]

٢٠ أبريل ٢٠٢٢

Dear TV'ers,

Hereby the strategy script where the RSI of an altcoin can be compared to one of the selected cryptocap indices. Included are:
-total market cap
-total market cap minus bitcoin
-total market cap others
-total market cap usdt
-cix100 index
-btc dominance
-btc total cap

If the signal crosses over 1, then the altcoin is undervalued compared to the crypto index (and considered a buying signal here). If the signal crosses under 1, then the altcoin is overvalued compared to the selected crypto-index and a short signal is produced.

!!Please note that the selected timeframe for the reference pair should be a higher time of the chart in order to prevent repainting!!!