I've changed the multiplier to 8.5 here, which actually touches the 2018 market top, while a multiplier of 9 goes slightly above it.
הערות שחרור
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OK after experimenting with some tweaks, I have modified to this. Note that the launch date is the launch of the Ethereum main net, like with the BTC Top Cap indicator script. It is not the start date of the chart.
הערות שחרור
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Update with mid and bottom market cap bands.
Also add links to my other scripts (which I haven't published due to a limit on my account).
Thanks James, really like it, it turns out this is really a good indicator indeed this top exactly.
jcray
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Use all of these scripts only on the YTD timeframe for correct rendering.
jcray
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See also my other scripts:
- top cap, mid cap and bottom/average cap / market cap bands for Ethereum: bit ly ethcaps
- top cap, mid cap and bottom/average cap / market cap bands for Holo HOT tokens: bit ly hottcmc
- top cap, mid cap and bottom/average cap / market cap bands for BTC: bit ly btccaps
jcray
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Note that this indicator only touches the 2018 peak, while the price actually rose significantly above the market top in 2017. So for future price action, the price could also cross above the market top. In any case, if the price does cross above the market top cap, it is still a good indicator to sell.