Relative Crypto Dominance Polar Chart

The Relative Crypto Dominance Polar Chart is a powerful trading tool designed to help traders visually compare the dominance of up to ten different cryptocurrencies through a polar area chart. This innovative chart evaluates relative dominance using a blend of traded dollar volume and volatility, providing traders with an intuitive snapshot of market dynamics.

How to Use the Relative Crypto Dominance Polar Chart?

Using the Relative Crypto Dominance Polar Chart is straightforward. Simply load the indicator onto your chart, and the graph displaying relative dominance will be generated automatically. The default setting includes the ten largest cryptocurrencies by market cap, but traders have the flexibility to select any tickers via the settings panel.

Each area in the chart represents dominance by mapping volatility (radius) against dollar volume (arc length); thus, a larger area indicates greater dominance for that specific ticker.

How to Choose the Period?

The tool accommodates up to five different periods:

• Hourly
• Daily
• Weekly
• Monthly
• Yearly

By default, the tool is set to auto mode, intelligently selecting the period based on the chart's timeframe:

• For timeframes up to 2m: Hourly
• For timeframes up to 15m: Daily
• For timeframes up to 1H: Weekly
• For timeframes up to 4H: Monthly
• For larger timeframes: Yearly

Sorting & Sizing Options

Traders can opt to sort the graph areas by volatility (radius) in ascending or descending order. By default, the tickers appear as ordered in the settings panel. Additionally, the tool provides customization options to adjust the chart's width on a percentage basis. If the graph appears too wide, simply decrease the size parameter in the settings panel.

Personalizing Your Chart Style

The Relative Crypto Dominance Polar Chart offers extensive customization through its settings panel. Traders can enable or disable most components and introduce a visually appealing petal-like effect by enabling curved lines for the display areas.

SETTINGS

• Period: Select from five time periods (Hourly, Daily, Weekly, Monthly, Yearly) and toggle Auto mode on or off.
• Tickers: Enable/disable individual tickers and choose colors.

Style Customization

• Graph Order: Choose the sort order for graph areas.
• Graph Size: Set the percentage of width to be utilized.
• Labels Size: Adjust the size for ticker labels.
• Show Percent: Display dominance percentage beneath each ticker.
• Curved Lines: Toggle the petal-like visual effect on or off.
• Show Title: Choose to show or hide the graph title.
• Show Mean: Enable/disable the volatility average display and set its color.

FAQ

How can I access the Relative Crypto Dominance Polar Chart? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

What does a larger area in the chart signify? A larger area denotes greater dominance of the corresponding ticker, considering both volatility and traded dollar volume.

Can I customize the appearance of the chart? Yes, the chart is highly customizable. You can modify settings for periods, ticker selections, graph size, and styling options through the settings panel.