RSI correlation with cryptoindices [strategy version] by DynamicSignalLab
By DynamicSignalLab
Performance Metrics
- Author: DynamicSignalLab
- Symbol: BINANCE:BTCUSDTPERP
- Timeframe: 1 hour
- Net P&L: +3,898,821.78 NONE (+393.63%)
- Win Rate: 56.8%
- Profit Factor: 1.04
- Max Drawdown: 3,703,798.46 NONE (55.45%)
- Total Trades: 6,081
- Sharpe Ratio: 0.29
Description
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 capIf 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!!!