Bitcoin: Price Action Integral Bands

This indicator tries to display absolute tops and bottoms for Bitcoin. The price action gets integrated with two custom functions resulting in the blue top and red bottom price action integrals. From those integral values we allow 5% deviation in up and down direction, leading to price action integral bands of some non-zero width.

Even in the current liquidity crisis with abnormal price movements, Bitcoin had no weekly candle close below the support band. One thing to note is that in the here presented model, up until now only one single weekly candle touches the blue band in each of Bitcoin's cycles. For longer-term trades it might be a good idea to buy BTC when price is around the red band, and sell/go short when BTC is around the blue band, although this is no financial advice and one should always cross-check with other indicators/informations.

There's the option to plot or hide the bands individually.

The integral bands are specifically designed for the Bitcoin BLX (BraveNewCoin Liquid Index) ticker on weekly timeframe. For other assets, tickers and timeframes the functionality of this indicator cannot be guaranteed and will most probably not deliver meaningful results.

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Added a green mid price action integral band. When price is located above the green band, the market is in a bullish environment, if price lies below it, the market is in a bearish environment. You can hide the green band via 'Indicator Settings' like the other bands if you want.

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Added two more integral bands for finer trading opportunities: a turquoise top-mid band, and an orange bottom-mid band.

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Name change of the study.

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Added a full array of bands for many additional trading opportunities, and especially for a mapping of the parabolic fallout following a bullrun.

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Minor update of the 4th band.