Altcoin Breadth | QuantumResearch

🔹 Altcoin Breadth | QuantumResearch

Purpose:
Altcoin Breadth measures the strength of the altcoin market by tracking how many assets trade above key moving averages (50-day and 200-day). It offers a normalized view of trend participation across 40 major crypto assets.

How It Works:
For each of the 40 altcoins:

The script checks whether the asset's current price is above its 50-day and/or 200-day simple moving average.
Each condition counts as a binary "1" (trend up) or "0" (trend down).
The total values are averaged, yielding two normalized values between 0 and 1:
Breadth 50: % of assets above their 50 SMA
Breadth 200: % of assets above their 200 SMA

Visual Display:

Plots Breadth 50 and Breadth 200 separately as two gradient-colored lines.
Dynamic labels at the latest bar indicate current breadth values.
Optional bar coloring to reflect underlying breadth momentum.
Key Features:

Evaluates short-term and long-term trend strength across the altcoin sector.
Dynamic visualization of market participation breadth.
Clear trend shifts and sector-wide bullish/bearish transitions.
Separate toggles to show either Breadth 50, Breadth 200, or both.
Trading Application:

Identify broad altcoin uptrends or breakdowns.
Use Breadth 200 for macro confirmation; Breadth 50 for tactical shifts.
Align altcoin exposure with healthy trend participation levels.

⚠️ Breadth tools offer market-wide context, not individual entry signals. Use in combination with trend or momentum indicators.

Disclaimer: Past performance does not guarantee future results. This tool is intended for informational and educational use only. Cryptocurrency markets are volatile and involve high risk.