A unique crypto narrative strength indicator that aggregates RSI values across multiple tokens to assess momentum and sentiment in different cryptocurrency themes.
Explore complementary indicator rolesHow it works
This indicator calculates the average Relative Strength Index (RSI) for representative tokens within ten distinct cryptocurrency narratives, including AI, DeFi, Gaming, and others. By summing the RSI values of associated tokens and dividing by the number of tokens, it generates a comprehensive momentum score for each narrative.
The indicator then plots a 3-period simple moving average (SMA) of each narrative's RSI using different colors and line styles. Users can customize RSI length, line width, and label offset, with an option to display labels showing the most recent RSI value for each narrative.
Why it may be useful
This indicator provides traders with a sophisticated tool to understand the relative strength and momentum across different cryptocurrency narratives simultaneously. By aggregating RSI data from multiple tokens, it offers a more holistic view of market sentiment beyond individual token performance.
The multi-narrative approach allows traders to quickly identify which themes are currently trending, potentially revealing emerging opportunities or areas of market weakness. Its comprehensive design helps traders make more informed decisions by providing a broader perspective on cryptocurrency market dynamics.
When to explore it
This indicator is most effective when traders want to assess the overall momentum of different cryptocurrency narratives and identify potential entry or exit points. It works particularly well during periods of high market volatility or when comparing the relative strength of emerging themes in the crypto ecosystem.
Traders can utilize this tool to take profits, find W bottoms or M tops, and gauge which narratives are currently hot. It is especially useful for those looking to diversify their crypto investments or understand broader market trends beyond individual token performance.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
