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.
Whale: Whale utilizing discounted prices (increasing on-chain volume & decreasing price)
Recovering: Positive momentum in price after potential whale activity
Cycle Volume Support: The transaction volume support during a cycle
What’s the best time to invest?
After institutions make up their mind at low price levels.
How’s on-chain volume related...
Version 1 -
Better Optimization on the levels.
Plotting only the important Highs and Lows
The extremes can be an important pivot levels.
Over and Undervalue - Gray (Column - close) (Histogram - High/Low)
Extreme conditions - Red
Extreme Alerts and Overlay will be added later.
This is an indicator, That works great in a wip-saw market range. Would not use this to trade in a breakout.
I am calling it the "Transaction Value Index (UCS_TVI)", The reason is because, it measure where the price currently from the mean trade value.
The cross represents the highest trade value on that day, circle represents the lowest trade value.