Crypto breadth data (Advance Decline Line, McClellan indicators, over SMA 200 data etc.) for (Crypto) Indices
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Market breadth data, such as Advance Decline Data, for Crypto currency indices
I am currently looking into generating breadth data, such as the Advance Decline Line, Advanced vs. Declined, the McClellan Summation Index, the McClellan Oscillator or "members above SMA50/100/200" for the crypto market.
Scouting Crypto indices
The first step would be to identify relevant crypto indices for my purpose.
This is what I've found so far:
- S&P Crypto Indices - can't find the components so far (am I blind??)
- BitPanda Crypto Indices
- BCI5 (Bitcoin, Ethereum, BNB, Doge, Polkadot)
- BCI10 (BCI 5 + others)
- BCI25 (BCI 15 + 15 others)
- WorldCoinIndex
- Bloomberg Crypto Indices
Since Bitocin and Ethereum have the largest market cap by far, creating crypto indices doesn't make much sense if you don't have a weight limit for the biggest crypto currencies. But when comparing the prices to the breadth data, such as the Advance Decline Line, one gets a better impression if the crypto markets are rising or declining as a "market unit".
Implementation
I think I might start to implement the BitPanda Crypto indices first.
For each index, I will try to generate the following data:
- Advanced vs. Declined for crypo
- Advance Decline Line for crypto
- Crypto index members above their SMA50
- Crypto index members above their SMA100
- Crypto index members above their SMA200
- McClellan Oscillator for Crypto
- McClellan Summation Index for Crypto
Since cryptos are traded 24/7 (right.. right??), it shouldn't matter at what time I generate the market breadth data. So I might do that before generating the market breadth data on the usual suspecds (NASDAQ, DOW etc.).
This way, we'll have crypto market breadth data during the day.
Time frame
I think I'll start within the next 10 days. Once I started, I should have the first results within 1-3 days.
I will keep you posted.
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