OPEN-SOURCE SCRIPT
BTC Top Indicator - Extension from 20 Week SMA (Normalized)
This Indicator calculates the logarithmic deviation of the BTCUSD price from its 20-week SMA and dynamically normalizes it between a lower signal line (-0.57) and an upper trendline defined by two historical points (May 30, 2011, at 1.75 and March 4, 2024, at 0.45).
The indicator line color changes dynamically:
Ideal for analyzing BTCUSD on the Index chart to identify potential overbought or oversold levels. It's better suited for identifying tops, than bottoms.
The indicator line color changes dynamically:
- green below 0
- blue at 0.5
- red above 1
Ideal for analyzing BTCUSD on the Index chart to identify potential overbought or oversold levels. It's better suited for identifying tops, than bottoms.
Skript med en öppen källkod
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. Du kan ange den som favorit för att använda den i ett diagram.
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