F_rank_01

Macro EMA Correlation


This script is useful to see correlation between macroeconomic assets, displayed in different ema line shown in percentage to compare these assets on the same basis. Percentage will depend on the time frame selection. In the higher timeframe you will see higher variation and in small timeframe smaller variation.

You can select the timeframe who suit your trading style. The 1h and 4h fit well for longer trend swing trade and the lower time frame 15m, 5m, 1m are good for scalping or daily trading.

The following asset are available:

Bitcoin
Ethereum
Gold
Crypto total market cap excluding bitcoin ( total2 )
United state 10-year government bond ( US10Y )
Usdt dominance show the concentration of usdt hold. For example, when trader are fearful they sell their crypto position to keep more usdt in their portfolio (USDT.D)
The USD/JPY pair the dollar usd versus the Japanese Yen one of the most forex traded pair.

You can clic on parameter to select the asset you want to analyse.

The main correlation observed are:
bitcoin negatively correlated with the usdt dominance.
bitcoin negatively correlated with the usd/jpy pair
bitcoin is positively correlated to eth, total2 (altcoin)
bitcoin positively correlated with gold
bitcoin is mostly negatively correlated to us10y

The basis of correlation is that positively correlated asset goes in the same direction and that the negatively correlated goes in opposite direction.


So, the idea is to use these information to see trend reversing.
Example 1: when bitcoin and usdt dominance are extended in opposite direction we look for a possible retracement toward 1% wich is the middle base.
Example 2 : when bitcoin make a move we look for ethereum and total 2 to follow





Skrip sumber terbuka

Dalam semangat TradingView yang sebenar, penulis skrip ini telah menerbitkannya dengan menggunakan sumber terbuka supaya pedagang-pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda dapat menggunakannya secara percuma tetapi penggunaan semula kod ini dalam penerbitan adalah dikawalselia oleh Peraturan Dalaman. Anda boleh menyukainya untuk menggunakannya pada carta.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.

Ingin menggunakan skrip ini pada carta?