Crypto-Adjusted Exponential Moving Average (CAEMA)

This exponential moving average (EMA) can be applied to any Crypto-currency and ANY time-frame!
Request use in the comments :)

This EMA is adjusted to give weight to the performance of the 6 largest Cryptocurrencies by market-cap.
This is the Crypto-Index that affects the EMA.

Bitcoin
Ethereum
Bitcoin Cash
Ripple
Litecoin
Nem Coin.


The use of this indicator is to observe divergence between the price of the underlying asset that is the basis of your chart, and the rest of the Crypto-currency market.

If more Crypto-currencies go down while your observed currency goes up, the CAEMA will sit lower and a blue pool will become visible showing that that the chart is performing better than the Crypto-Weighted Index listed above. If more Crypto-currencies go up while your observed currency goes down, the CAEMA will sit higher and a red cloud will form, showing that the chart is performing worse than the Crypto-weighted Index.

The indicator uses two variables that can be changed:

"EMA_Length" = This is the length of the exponential moving average and is set to 50 by default.

"CryptoFactor" = This is the weighting given to the movement of the Crypto-Index. Essentially, this is the factor as to how much the movement of the Crypto-Index effects the weight of the EMA. If you set this at 0, the line will be an exponential moving average of the set length without any affect of the Crypto-Index.
By default, the CryptoFactor is set to 0.8.