MVRV-Z adjusted EN version (by ilyaevp95)Descriptions:
The MVRV Z-Score indicator is a powerful tool designed by original authors Murad Mahmudov and David Puell for BTC to help traders make informed decisions about their cryptocurrency investments. It is based on the MVRV (Market Value to Realized Value) metric, which measures the relationship between the market capitalization and the realized capitalization of a cryptocurrency. The indicator provides signals for accumulating or selling an asset based on deviations in market capitalization from realized capitalization.
How it works:
Market Capitalization : This is the total value of coins that have been issued at a given point in time. Market capitalization is calculated by multiplying the current price of the asset by the number of coins that have been issued.
Realized Capitalization (Realized Price) : This is the amount of money that has been spent on purchasing a particular asset. In the context of cryptocurrencies, it represents the sum of all transaction values for a specific blockchain. Realized capitalization can be calculated using historical data on transaction prices.
MVRV Metric : The MVRV metric compares market capitalization with realized capitalization, providing a measure of how overvalued or undervalued a cryptocurrency is relative to its historical transaction data. A high MVRV value indicates that the market is overvaluing the asset, while a low MVRV suggests undervaluation.
Z-Score Calculation : The Z-score is a statistical measure that normalizes the deviation of market capitalization from its mean value (realized capitalization) to a standard deviation. This makes it possible to compare assets that have different values and time periods, as it takes into account the volatility of the market.
Note: For accurate Z-score calculation, you need to use the indicator on a chart with a mostly complete historical data set for a specific cryptocurrency.
Signals : Based on the Z-score, the indicator generates signals for accumulation or sale. If the Z-score falls below a certain threshold (negative), it may indicate an opportunity to accumulate the asset. Conversely, if the Z-score rises above a positive threshold, it could suggest a potential sell signal.
The indicator uses a color-coded system to provide traders with visual cues:
Green background indicates a signal to accumulate.
Orange (Red) background indicates a signal to sell.
Deviations exceeding the specified thresholds by 1 and 2 Z (positive direction), 0.5 and 1 Z (negative direction) are highlighted in a brighter color, indicating more extreme deviations.
Note: The signals provided by this indicator should not be considered financial advice. Traders should conduct their own research (DYOR) before making any investment decisions.
Parameters: The indicator provides several parameters for customization:
Blockchain : The blockchain for which the analysis is performed. This allows the user to select the specific blockchain they are interested in analyzing. The default value is BTC.
Z threshold for positive deviations : This parameter sets the threshold above which the deviation will be considered positive. A higher value will result in fewer signals, while a lower value may generate more false signals. The default value is 3.0.
Z threshold for negative deviations : Similar to the previous parameter, this sets the threshold below which the deviation will be considered negative. The default value is 0.
Market Capitalization : There are two types of market capitalization available: Standard and Free float coin capitalization. Free float is calculated by multiplying its current price by the total number of units in free circulation - the number that are not locked in any contracts or other forms of restriction. For DASH, ZEC, BAT and ALGO available only Free float capitalization. The default value is "Standard"
Negative Deviation Filter Mode : When enabled, if the deviation has been positive for a certain number of previous weeks (the default value is 40 weeks), the indicator will not generate a signal to accumulate. This helps to avoid false signals during the start of a bearish market. This may be helpful for volatile coins, whose price can drastically fall below the realized price after the end of a bull market. The default setting is "disabled".
Display Options:
MVRV plot : Displays the MVRV metric for the selected blockchain.
Z-Score plot : Shows the Z-score calculated by the indicator.
Realized Price plot : Provides a visual representation of the realized price of the cryptocurrency on main chart.
S ignal Display : Choose whether to display signals on the main chart or in a separate panel.
Historical mode : Choose whether to show signals for all historical data on the chart or for a certain number of periods. The default setting is "disabled".
Blockchain
Blockunity Address Synthesis (BAS)Track the address status of the various cryptoassets and their evolution.
The Idea
The goal is to provide a simple tool for visualizing the evolution of different types of crypto addresses.
How to Use
This tool is to be used as fundamental information. It is not intended for investment or trading purposes.
Elements
Active Addresses
Active Addresses represent the subset of total addresses that made one or more on-chain transaction on a given day.
New Addresses
New Addresses refer to addresses that receive their first deposit in the selected crypto-asset.
Zero Balance Addresses
Zero Balance Addresses are addresses that transferred out (potentially sold) all of their holdings for the selected crypto-asset.
Total Addresses
Total Addresses refer to the overall count of unique addresses that have been created on a blockchain network.
Settings
In the settings, you can :
Adjust line smoothing (in terms of number of days).
Change the lookback period used to calculate the different variations.
Display or not the different address types (for better visualization, Total Addresses should be shown alone).
Show or hide labels and configure their offset.
Lastly, you can modify all table parameters.
Market Activity Risk"Market Activity Risk" (MAR) - Is a dynamic tool designed to structurize the competitive landscape of blockchain transaction blocks, offering traders a strategic edge in anticipating market movements.
By capturing where market participants are actively buying and selling, the MAR indicator provides insights into areas of high competition, allowing traders to make informed decisions and potentially front-run transactions.
At the heart of this tool are blockchain transaction fees , they can represent daily shifts in transaction fee pressures.
By measuring momentum in fees, we can analyze the urgency and competition among traders to have their transactions processed first. This indicator is particularly good at revealing potential support or resistance zones, areas where traders are likely to defend their positions or increase their stakes, thus serving as critical junctures for strategic decision-making.
Key Features:
Adaptable Standard Deviation Settings: Users have the flexibility to adjust the length of the standard deviation and its multipliers, managing the risk bands to their individual risk tolerance.
Color-Coded Risk Levels: The MAR indicator employs an intuitive color scheme, making it easy to interpret the data at a glance.
Multi-Currency Compatibility: While designed with Bitcoin in mind, the MAR indicator is versatile, functioning effectively across various cryptocurrencies including Ethereum, XRP, and several other major altcoins. This broad compatibility ensures that traders across different market segments can leverage the insights provided by this tool.
Customizable Moving Average: The 730-day moving average setting is thoughtfully chosen to reflect the nuances of a typical cryptocurrency cycle, capturing long-term trends and fluctuations. However, recognizing the diverse needs and perspectives of traders, the indicator allows for the moving average period to be modified.
TotalCustomTotalCustom sums our custom altcoin list's market caps together.
Primarily used to compare to the following:
A. price of bitcoin
B. Total 1, Total 2, Total 3
Used in the following way:
When there is a large gap on fixed time frames (i.e. 3 month, 6 month, YTD) between this indicator and the main comparisons, it is generally considered a good time to buy.
Blockchain FundamentalThis indicator is made for traders to harness fundamental blockchain data for better decision-making. Unlike traditional tools, this indicator doesn't depend on standard technical indicators. It offers a novel perspective by focusing on core blockchain metrics like capitalization, miner activity, and other intrinsic data elements. I've designed a distinct scoring logic, exclusive to BF, ensuring it's user-friendly and provides actionable insights for traders at all levels.
Mainly created for Bitcoin , but can be applied to any other crypto assets in cost of losing some metrics in the analysis.
Ethereum chart:
Features:
Customizable Moving Averages:
Choose from an array of moving averages, with the flexibility to adjust the length for a tailored analysis, aiding in pinpointing asset trends.
Blockchain Metrics Integration:
Incorporates a range of blockchain metrics such as Market Cap to Realised Cap ratio, Spent Output Profit Ratio, ATH Drawdown, and more.
Blockchain Metrics Evaluation:
Each metric can be toggled on/off to customize the analysis. Using default settings, traders can use all of the metrics combined.
Every metric is essentially evaluated on a scale from -100 to 100 and then combined with others. If any metric is uncertain about its direction (equals to 0), then the score of it is not accounted in a final calculation.
Kalman Filter:
This indicator offers the option to apply a Kalman filter to the signals, enhancing the smoothness and accuracy of the indicator’s output. This is my approach to mitigate the noise in the final output.
Signal Oscillator:
Displays the aggregated score of all selected blockchain metrics.
Offers visual signals with adjustable upper and lower bounds for easy interpretation based on particular asset observation.
Visual Elements:
Signal Oscillator:
A visual representation of the aggregated blockchain fundamental score.
(White line for a raw calculation, orange line for kalman-filtered one)
Signal Counter:
Displays the count of metrics currently being considered in the fundamental score calculation. (grey line at the middle of an indicator)
Buy/Sell Signal Coloring:
The background color changes to indicate potential buying or selling opportunities based on user-defined bounds.
Usage:
Analysis:
Use the signal oscillator to identify potential market tops and bottoms based on blockchain fundamental data.
Adjust the bounds to customize the sensitivity of buy/sell signals.
Customization:
Enable/disable specific blockchain metrics to tailor the indicator to your analytical needs.
Adjust the moving average type and length for better analysis.
Integration:
Combine with other technical indicators to create a comprehensive trading strategy.
Utilize in conjunction with volume and price action analysis for enhanced decision-making. Every output could be used in traders custom strategies and indicators.
Blockchain Fundamentals - Active Address Sentiment Osc. [CR]Blockchain Fundamentals: Active Address Sentiment Oscillator AASO
Back with another script today, this one is a useful tool in helping to determine bitcoins value. We are looking at 2 data sources: the daily active addresses on the BTC blockchain, and the daily returns of BTC.
THIS INDICATOR WILL ONLY GIVE YOU THE CORRECT RESULTS ON THE DAILY TIMEFRAME
There is an interesting relationship that you can see by comparing the two timeseries. But for us to create a good indicator we first need to normalize the data. So we look at the percent change over the past 28 days for each metric (DAA and price).
THIS INDICATOR WILL ONLY GIVE YOU THE CORRECT RESULTS ON THE DAILY TIMEFRAME
We then calculate standard deviation bands around the DAA metric. We finalize them by averaging the bands over a 28 day period.
When the Price series (yellow line) is higher than the SD bands BTC is considered overvalued or price is overheated. A pullback could be expected soon. When the Price series is below the SD bands BTC is considered undervalued or price is oversold.
THIS INDICATOR WILL ONLY GIVE YOU THE CORRECT RESULTS ON THE DAILY TIMEFRAME
This tool doesnt give signals on the one minute chart or tell you exactly when to buy or sell. BUT what it does do is act as a convenient macro sentiment indicator that is not based completely upon price.
In an attempt to narrow down the really juicy areas, if you seen the background color highlights with white, that means its likely a top or bottom. At the very least on a local sense and many times in a cyclical macro sense as well. It also narrows down the signal to a generally more profitable area.
This indicator is not meant to be used on timeframes other than daily (did I mention that already?). I am lazy and did not code the calculations to be MTF (which is why you have to use on the daily chart). If you want to code this, please forward it on to me and I will post an update with a heartfelt credit to you.
Blockchain Fundamentals: Electricity Cost of BTC [CR] Blockchain Fundamentals: Electricity Cost of BTC
After a hiatus, now a return to publishing tools and scripts for the community. This is my first script in over and year, and I have a number more coming soon as well! (so Stay Tuned!)
This is a simple calculator to estimate the cost of Bitcoin miners to mine one bitcoin. It works on all timeframes (doesnt have to be on daily).
By entering the inputs of total TH's, kWh used, cost of electricity per kWh (in USD cents) we can generate the electricity cost.
But miners also have other costs of operation including HVAC, maintenance, rent, etc. In light of that we include a multiplier that accounts for these extra costs. First, type in what percent of your total operating costs come from the electricity. Then check the enable total cost plot option and you will also see total costs in addition to electricity costs.
Its a simple model and gives anyone curious a starting point for their own testing and research.
NVTNetwork Value to Transactions Ratio (NVT) is defined as the ratio of market capitalization divided by transacted volume.
NVT Ratio can be thought of as an indicator that measures whether the blockchain network is overvalued or not.
If it is upper than red line, it means overvalued.
NVT Golden Cross targets to generate short or long signals by comparing the short-term trend of NVT and the long-term trend of NVT. If the short-term trend is way greater than the long-term trend is, the network can be interpreted as overpriced and will soon revert to mean value, meaning short signal. Similarly, the opposite case may imply a long signal.
Over the red line is short signal and under the green line is long signal.
You can find divergence in this indicator.
There are two sources
cryptocap
glassnode
Bitcoin Cost Per Transaction (QUANDL:BCHAIN/CPTRA)Simple script that graphically represents the Bitcoin Cost Per Transaction.
Blockchain data made available at QUANDL.
Its logic is simple, search the data in the QUANDL database and plot it on the chart.
Noldo Blockchain Cryptocurrency Indicator
Hello, this script has the same logic as Noldo CFTC COT Forex Indicator :
And Noldo CFTC COT Commodities Indicator :
*
Script briefly calculates the period length between two signals of Pivot Reversal Strategy when new signal arrives and allows us to see relative Blockchain data and price changes of Major Cryptocurrencies over that automatic length.
This saves us from the hassle and time wasting of searching for a reference point.
Usage
This script works only on all Bitcoin / U.S Dollar pairs and futures.
It only works on 1W graphics.
ICOT data are pulled via Quandl
NOTE :
Since blockchain data is very votalile, 7-day ema values are adjusted to take into account.
Regards.
Bitcoin Block Height (Total Blocks)Bitcoin Block Height by RagingRocketBull 2020
Version 1.0
Differences between versions are listed below:
ver 1.0: compare QUANDL Difficulty vs Blockchain Difficulty sources, get total error estimate
ver 2.0: compare QUANDL Hash Rate vs Blockchain Hash Rate sources, get total error estimate
ver 3.0: Total Blocks estimate using different methods
--------------------------------
This indicator estimates Bitcoin Block Height (Total Blocks) using Difficulty and Hash Rate in the most accurate way possible, since
QUANDL doesn't provide a direct source for Bitcoin Block Height (neither QUANDL:BCHAIN, nor QUANDL:BITCOINWATCH/MINING).
Bitcoin Block Height can be used in other calculations, for instance, to estimate the next date of Bitcoin Halving.
Using this indicator I demonstrate:
- that QUANDL data is not accurate and differ from Blockchain source data (industry standard), but still can be used in calculations
- how to plot a series of data points from an external csv source and compare it with another source
- how to accurately estimate Bitcoin Block Height
Features:
- compare QUANDL Difficulty source (EOD, D1) with external Blockchain Difficulty csv source (EOD, D1, embedded)
- show/hide Quandl/Blockchain Difficulty curves
- show/hide Blockchain Difficulty candles
- show/hide differences (aqua vertical lines)
- show/hide time gaps (green vertical lines)
- count source differences within data range only or for the whole history
- multiply both sources by alpha to match before comparing
- floor/round both matched sources when comparing
- Blockchain Difficulty offset to align sequences, bars > 0
- count time gaps and missing bars (as result of time gaps)
WARNING:
- This indicator hits the max 1000 vars limit, adding more plots/vars/data points is not possible
- Both QUANDL/Blockchain provide daily EOD data and must be plotted on a daily D1 chart otherwise results will be incorrect
- current chart must not have any time gaps inside the range (time gaps outside the range don't affect the calculation). Time gaps check is provided.
Otherwise hardcoded Blockchain series will be shifted forward on gaps and the whole sequence become truncated at the end => data comparison/total blocks estimate will be incorrect
Examples of valid charts that can run this indicator: COINBASE:BTCUSD,D1 (has 8 time gaps, 34 missing bars outside the range), QUANDL:BCHAIN/DIFF,D1 (has no gaps)
Usage:
- Description of output plot values from left to right:
- c_shifted - 4x blockchain plotcandles ohlc, green/black (default na)
- diff - QUANDL Difficulty
- c_shifted - Blockchain Difficulty with offset
- QUANDL Difficulty multiplied by alpha and rounded
- Blockchain Difficulty multiplied by alpha and rounded
- is_different, bool - cur bar's source values are different (1) or not (0)
- count, number of differences
- bars, total number of bars/data points in the range
- QUANDL daily blocks
- Blockchain daily blocks
- QUANDL total blocks
- Blockchain total blocks
- total_error - difference between total_blocks estimated using both sources as of cur bar, blocks
- number_of_gaps - number of time gaps on a chart
- missing_bars - number of missing bars as result of time gaps on a chart
- Color coding:
- Blue - QUANDL data
- Red - Blockchain data
- Black - Is Different
- Aqua - number of differences
- Green - number of time gaps
- by default the indicator will show lots of vertical aqua lines, 138 differences, 928 bars, total error -370 blocks
- to compare the best match of the 2 sources shift Blockchain source 1 bar into the future by setting Blockchain Difficulty offset = 1, leave alpha = 0.01 =>
this results in no vertical aqua lines, 0 differences, total_error = 0 blocks
if you move the mouse inside the range some bars will show total_error = 1 blocks => total_error <= 1 blocks
- now uncheck Round Difficulty Values flag => some filled aqua areas, 218 differences.
- now set alpha = 1 (use raw source values) instead of 0.01 => lots of filled aqua areas, 871 differences.
although there are many differences this still doesn't affect the total_blocks estimate provided Difficulty offset = 1
Methodology:
To estimate Bitcoin Block Height we need 3 steps, each step has its own version:
- Step 1: Compare QUANDL Difficulty vs Blockchain Difficulty sources and estimate error based on differences
- Step 2: Compare QUANDL Hash Rate vs Blockchain Hash Rate sources and estimate error based on differences
- Step 3: Estimate Bitcoin Block Height (Total Blocks) using different methods in the most accurate way possible
QUANDL doesn't provide block time data, but we can calculate it using the Hash Rate approximation formula:
estimated Hash rate/sec H = 2^32 * D / T, where D - Difficulty, T - block time, sec
1. block time (T) can be derived from the formula, since we already know Difficulty (D) and Hash Rate (H) from QUANDL
2. using block time (T) we can estimate daily blocks as daily time / block time
3. block height (total blocks) = cumulative sum of daily blocks of all bars on the chart (that's why having no gaps is important)
Notes:
- This code uses Pinescript v3 compatibility framework
- hash rate is in THash/s, although QUANDL falsely states in description GHash/s! THash = 1000 GHash
- you can't read files, can only embed/hardcode raw data in script
- both QUANDL and Blockchain sources have no gaps
- QUANDL and Blockchain series are different in the following ways:
- all QUANDL data is already shifted 1 bar into the future, i.e. prev day's value is shown as cur day's value => Blockchain data must be shifted 1 bar forward to match
- all QUANDL diff data > 1 bn (10^12) are truncated and have last 1-2 digits as zeros, unlike Blockchain data => must multiply both values by 0.01 and floor/round the results
- QUANDL sometimes rounds, other times truncates those 1-2 last zero digits to get the 3rd last digit => must use both floor/round
- you can only shift sequences forward into the future (right), not back into the past (left) using positive offset => only Blockchain source can be shifted
- since total_blocks is already a cumulative sum of all prev values on each bar, total_error must be simple delta, can't be also int(cum()) or incremental
- all Blockchain values and total_error are na outside the range - move you mouse cursor on the last bar/inside the range to see them
TLDR, ver 1.0 Conclusion:
QUANDL/Blockchain Difficulty source differences don't affect total blocks estimate, total error <= 1 block with avg 150 blocks/day is negligible
Both QUANDL/Blockchain Difficulty sources are equally valid and can be used in calculations. QUANDL is a relatively good stand in for Blockchain industry standard data.
Links:
QUANDL difficulty source: www.quandl.com
QUANDL hash rate source: www.quandl.com
Blockchain difficulty source (export data as csv): www.blockchain.com
Bitcoin Wallet Transaction Volume (QUANDL:BCHAIN/MWTRV)Simple script that graphically represents the Bitcoin Wallet Transaction Volume .
Blockchain data made available at QUANDL .
Its logic is simple, search the data in the QUANDL database and plot it on the chart.
Basic Cryptocurrency TerminalHello,
This script is a simple Cryptocurrency Terminal.
It serves the same purpose as Heatmaps.
You can also set the period to look back manually in the menu.
Major Cryptocurrencies are taken into account.
And various Blockchain data are shown in the information panel.
In this way, an idea can be obtained about Cryptocurrency Market.
It is visually more convenient and clear to use in an indicator window under the chart, not on the chart, as follows:
Regards.
Blockchain Fundamentals - MCCD - Miner Capitulation Conv/Div🔗Blockchain Fundamentals - MCCD - Miner Capitulation & Convergence Divergence
(a.k.a. Hash Ribbons)
Intro
Miner Capitulation has been talked about alot recently in the news and on twitter. I wanted to join the in fun and add my own spin on things.
Description
This shows the 30 (yellow) and 60 (orange) day moving average of the hash rate of bitcoin. I added an option to show the convergence/divergence of the two moving averages in a visual manner similar to the MACD.
I also added the ability to select both the length and type of MA used in the calculation of the capitulation so you can experiment.
Other additions include bar coloration by trade state, and background highlighting of capitulation periods.
Editable Capitulation/Recovery plots will show clearly when the crosses happen.
The way to replicate my display is to add the indicator twice below the chart and combine in the same pane. First indicator displays the averages by default. The second one you enable convergence/divergence display option and uncheck the rest.
Last I add the indicator one more time and dragged it on chart. Do not combine the scales into one, of else it will ruin the scale (you want them separate scales). Its just showing you possibilities, use whatever works for you!
👍 We hope you enjoyed this indicator and find it useful! We post free crypto analysis, strategies and indicators regularly. This is our 73rd script on Tradingview!
💬Check my Signature for other information
Blockchain Fundamentals - Satoshies Per Dollar by Cryptorhythms🔗Blockchain Fundamentals - Satoshis Per Dollar by Cryptorhythms
Intro
SPD is a new metric I propose which can be used to determine general sentiment and help narrow down periods to DCA .
Description
In the most basic sense this indicator is simply showing you how many satoshies are equal to one US dollar . This can be a useful metric to keep stored in the back of your mind. It can also give you a new satoshi based perspective on bitcoin pricing.
I simply added an MA selection option to give a basic sentiment reading. You could also use the red areas as a modified DCA (i.e. only do dollar cost averaging when red zone is in effect.
The indicator is not really meant for buy/sell signaling but more as a reference
👍 We hope you enjoyed this indicator and find it useful! We post free crypto analysis, strategies and indicators regularly. This is our 71st script on Tradingview!
💬Check my Signature for other information
Blockchain Artificial Neural NetworksI found a very high correlation in a research-based Artificial Neural Networks.(ANN)
Trained only on daily bars with blockchain data and Bitcoin closing price.
NOTE: It does not repaint strictly during the weekly time frame. (TF = 1W)
Use only for Bitcoin .
Blockchain data can be repainted in the daily time zone according to the description time.
Alarms are available.
And you can also paint bar colors from the menu by region.
After making reminders, let's share the details of this interesting research:
INPUTS :
1. Average Block Size
2. Api Blockchain Size
3. Miners Revenue
4. Hash Rate
5. Bitcoin Cost Per Transaction
6. Bitcoin USD Exchange Trade Volume
7. Bitcoin Total Number of Transactions
OUTPUTS :
1. One day next price close (Historical)
TRAINING DETAILS :
Learning cycles: 1096436
AutoSave cycles: 100
Grid :
Input columns: 7
Output columns: 1
Excluded columns: 0
Training example rows: 446
Validating example rows: 0
Querying example rows: 0
Excluded example rows: 0
Duplicated example rows: 0
Network :
Input nodes connected: 7
Hidden layer 1 nodes: 5
Hidden layer 2 nodes: 0
Hidden layer 3 nodes: 0
Output nodes: 1
Controls :
Learning rate: 0.1000
Momentum: 0.8000
Target error: 0.0100
Training error: 0.010571
The average training error is really low, almost worth the target.
Without using technical analysis data, we established Artificial Neural Networks with blockchain data.
Interesting!
Bitcoin Network Value to Transactions [aamonkey]Cryptoassets have been quite turbulent in the past few weeks.
At times like this, it is especially important to look at the fundamental foundations of cryptoassets.
This indicator is based on the Network Value to Transactions , or NVT .
Definition:
NVT = Network Value / Daily Transaction Volume
Because this indicator is pulling the Daily Transaction Volume for BTC it can only be used for BTC and the daily timeframe.
NVT Signal with RMA and thresholds [alertable]NVT Signal, or NVTS, is an indicator that compares the market cap of Bitcoin to the aggregate USD value of daily transactions on the Bitcoin blockchain. It is a value indicator that shows a multiple of Bitcoin price against the actual usage of its blockchain. When the NVTS is low, it suggests Bitcoin price is low relative to the amount of utility the network provides, and vice versa.
For more information on NVTS, visit medium.com
This indicator aims to provide the following:
1. An open-source implementation of NVTS on Tradingview, as the most popular one currently is closed-source.
2. To provide two simple ways to define and visualize "overbought" or "oversold" conditions using the NVTS. Here, we have absolute value of NVTS & deviation from a long-term moving average.
3. Crude integration into Tradingview's alert system.
What this indicator CANNOT do:
1. Timeframes below 1d.
2. Signals based on statistical analyses, such as seen in Bollinger Bands et al. (However, with the appropriate type of account, you can add BBands on top of this indicator.)
I would like to express my gratitude to Willy Woo, Chris Burniske and Dimitry Kalichkin for their work on NVT Ratio and NVT Signal, without which my indicator would not have been created.
Feel free to fork & improve, or experiment with settings. I hope this indicator will be useful to someone.
BTC exchange trade vol / on-chain transaction volThis Bitcoin indicator shows the percentage that the exchange traded volume is from the sum of the exchange traded volume + on-chain transaction volume.
The thin red line is the non-smoothed value calculated from daily volumes.
The thick black line is the 7-day EMA-smoothed value.
The exchange traded volume and the on-chain transaction volume are reported by Quandl and have a 1D resolution - so it is best to use this indicator on the daily time frame.
When the value is high, it shows the the interest of traders is high and they are intensely trading BTC. When the indicator is low, it means that BTC is "dormant": it is used for transfers, but not so much for trading - traders forgot about it for a while - which may be a good time to accumulate if the economy is in a general bull market.
Mining Cash Flow LineTakes QUANDL Bitcoin blockchain difficulty data, three variables (hashrate in THs/sec, power consumption in kWh, and electricity costs in cents/kWh) and calculates the base line for cash flow in US dollars. The default is an AntMiner S15 at 10 cents/kWh.
When price is above this line, miners with the given conditions have positive cash flow (i.e. they make more money mining than their running costs), and when below the line, they would be better off turning their rigs off (if this simple model can be applied to their particular circumstance).
Assumptions:
1. All costs are consolidated into one "electricity cost" variable, including things like rent and wages for mining farms.
2. 12.5 BTC/block emission schedule (update source code upon next halving).
Warnings:
It is likely that actual costs to miners varies in complex ways. This indicator only shows a cash flow calculation for a very simple set of parameters that will generally apply to miners, but not necessarily all of them. (For example, a miner may be locked into a prepaid contract for cheap electricity, or sell exhaust heat in the winter for extra revenue.)
Positive cash flow is also different from ROI, as this model does not take into account the cost of acquiring an ASIC mining rig.
