Detecting the probability of local alt season, as well as price dynamics of the broad market in the moment.
Appearance of the indicator.
Alt meter shows how well the altcoin market is doing relative to BTC. Indicator values exceeding 50% mean that the altcoin market shows better dynamics than BTC. In this case, the indicator chart is colored green. Conversely, if the Alt meter values are below 50%, altcoins show the worst dynamics relative to Bitcoin. Then the indicator chart is colored red.
Tick index and RT index are calculated based on the prices of all instruments traded on Binance Futures and show the price dynamics of the broad market: the number of coins that are rising is compared to the number of coins that are falling. The user receives a score in the form of a number from -200 to +200 in the case of the Tick index and from -100% to +100% in the case of the RT index.
Tick Index is a popular indicator used by intraday traders to view the overall market sentiment at a given time. Observing the ratio of coins "up" to "down" allows traders to make quick trading decisions depending on market movements. Tick Index tracks the number of coins that are rising compared to the number of coins that are falling. Readings closer to +200 and -200 are considered extreme. The Tick Index in DOG includes the entire range of futures instruments on the Binance Futures exchange (about 200 instruments as of summer 2023 and adjusted +/- depending on new listings and delistings).
Tick Index is calculated using the formula:
$$ Growing_t=close_t>close_{t-1} ? 1 : 0 $$
$$ Falling_t=close_t<close_{t-1} ? 1 : 0 $$
$$ Tick Index_t=\sum Growing_t - \sum Falling_t $$
Where $Growing_{t}$ is the number of growing coins, $Falling_{t}$ is the number of falling coins; $t$ is the comparison period in seconds. The SMA for the same period is used as a point for comparison.
RT Index is a synthetic tool that evaluates the sentiment in real time relative to the average values of both the instrument itself and the general conjuncture as a whole.
Its main difference is that it does not work with absolute values (coin fell/grew). RT Index:
The effectiveness of the RT Index can be seen in the following examples. The large graph on the left is the coin prices used for the calculation. The upper chart on the right is the Tick Index. Bottom chart on the right - RT Index.