OPEN-SOURCE SCRIPT
ETH Gravity Oscillator
This indicator is a deviation of a Center of Gravity Oscillator corrected for the diminishing returns of Ethereum.
I've set up this indicator for it to be used on the weekly timeframe . The indicator oscillates between 0 and 10, where 0 indicates oversold conditions and 10 indicates overbought conditions. What is interesting is that it is not particularly ideal for identifying market cycle tops, but generally picks out the most euphoric region in the initial parabolic rally. Good to potentially keep in mind if there is a second bounce to the peak!
The indicator plots in any ETH charts. It paints in all time frames, but Weekly time frame is the correct one to interpret the 'official' read of it.
Made at the request of a kind commenter. If you would like to request different derivations of this script be sure to let me know!
I've set up this indicator for it to be used on the weekly timeframe . The indicator oscillates between 0 and 10, where 0 indicates oversold conditions and 10 indicates overbought conditions. What is interesting is that it is not particularly ideal for identifying market cycle tops, but generally picks out the most euphoric region in the initial parabolic rally. Good to potentially keep in mind if there is a second bounce to the peak!
The indicator plots in any ETH charts. It paints in all time frames, but Weekly time frame is the correct one to interpret the 'official' read of it.
Made at the request of a kind commenter. If you would like to request different derivations of this script be sure to let me know!
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
¿Quiere utilizar este script en un gráfico?
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.