CGP Crypto vs. Stocks Indicator

The CGP Crypto vs. Stocks indicator is a free, open-source TradingView script for tracking how crypto is performing relative to traditional stocks. Because it's open source, you can view the underlying code and adjust it yourself if you'd like to tweak it.

To use it, open the indicator page, click "Add to Favorites," then apply it from your favorites list to any chart. It looks the same no matter which asset you have open, but it's most useful applied to a Bitcoin chart or an S&P 500 chart, since that view best highlights the ratio and any rotation of capital between the two markets.

The indicator doesn't use fixed threshold lines — it's built to grow and adapt as crypto matures as an asset class. That means it isn't a precise "buy now" signal. Treat it as a long-term read on positioning: when the ratio reaches an extreme, it has historically lined up with periods where capital began rotating toward crypto. It has only fired a handful of times historically, so it's best read alongside other signals rather than on its own.