Crypto-DX Crypto Directional Index [chhslai]

5 oct 2022

Crypto-DX can be used to help measure the overall strength and direction of the crypto market trend.
Furthermore, it can be used as a screener to find out cryptocurrencies which are accumulating momentum and tends to potentially pump or dump.


How this indicator works :

• If the Crypto-DX cross above the zero-level, it could be an indication that there is a trend reversal into upward. You should close your short position or place a long order right away.
  
• If the Crypto-DX cross below the zero-level, it could be an indication that there is a trend reversal into downward. You should close your long position or place a short order right away.
  
• If the Crypto-DX is consolidated around the zero-level, it could be an indication that the trend may be ended and followed by a sideway market. You are suggested not to place any order and wait for the market moves.
  
• Divergence based trading strategy is fully applicable, just like the MACD.
  

Screener features :

• Plot "Crypto Index" and "5 Custom Crypto"
  
• Plot "Crypto Index" and "Top 30 Crypto"