Mayfair Crypto Strength Index

Working on the basis of a currency strength index - expresses the index value of a currency. For economists, it is often calculated as purchasing power. while for financial traders, it can be described as an indicator, reflecting many factors related to the currency; for example, fundamental data, overall economic performance or in Crypto terms the strength of the company/asset itself.

In the base version;

BTC is the thicker Orange level.
ETH - the Green
XRP - Blue

The concept then is similar to a stochastic indicator or RSI - 20% oversold regio & 80% overbought. The zero line can be used as Bullush or Bearish.

We wanted to create something that shows the correlation between the top cryptocurrencies as we are often asked about breaking down one or the other.

This is not a buy me now or sell me then indicator - just there to assist and compare assets easily.

Please feel free to like and follow.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.