emredewrim

Custom Market Sentiment Oscillator

INDEX:BTCUSD   Bitcoin
Market sentiment oscillator with a good correlation to the BTC price. Interestingly, previous tops occured once the CMSO is over the euphoria line and falling back afterwards. This happens once in a cycle and correctly indicates cycle tops. The rising above the euphoria line interestingly occured much early in this cycle, although very brief. Let's see if the oscillator bounces back from optimism line.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.