NVT Signal is a Bitcoin-specific study to get a view on data flowing through the blockchain.
It has been used to predict tops in Bitcoin price.
I've set up this indicator for it to be possible to base the calculations on custom:
- Transaction Periods
- Overbought levels
- Oversold levels
The indicator plots in any BTCUSD spot, , BLX index and BTCEUR .
It paints in intraday time frames, but Daily time frame is the correct one to interpret the 'official' read of it.
For that reason, I've enabled by default an option that forces the NVT to display the Daily value even though the time frame could be higher or lower.
Please consider unchecking this setting if you'd like to experiment with another type of reads (i.e. in weekly time frame).
Additionally, it allows the following settings:
- Signal Line Plot. Added the possibility to plot a Signal Line based on .
- Signal Line Cross. Show/Hide Crosses with the Signal Line.
- Alerts based on Signal Line. Predefined Tradingview Alerts on the Cross of the Signal Line.
- OverBought Background. Highlight the background based on OB Condition.
- OverBought Alert. Predefined Tradingview Alerts based on OB Condition.
- OverSold Background. Highlight the background based on OS Condition.
- OverSold Alert. Predefined Tradingview Alerts based on OS Condition.
Please check our blog article showing multiple practical ideas about trading the NVT indicator: https://medium.com/obvious-capital/bring...
Credit for this idea goes to Willy Woo https://woobull.com/author/willywoo/
and Dmitry Kalichkin https://twitter.com/Kalichkin
Please consider giving back and attract some good karma! :)
In the case of NVT, we see that the fundamental indication gets quite in sync with price action.