Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Descrição
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This plots logarithmic curves fitted to major Bitcoin bear market tops & bottoms. Top line is fitted to bull tops, bottom line is fitted to lower areas of the logarithmic price trend (which is not always the same as bear market bottoms). Middle line is the median of the top & bottom, and the faded solid lines are fibonacci levels in between.
Inspired by & based on a Medium post by Harold Christopher Burger, which shows how linear Bitcoin's long-term price growth is when plotted on a double-log chart (log scaling on the price AND time axis).
These curves will only make sense for tickers representing Bitcoin vs. USD (such as BITSTAMP:BTCUSD, BITMEX:XBTUSD, BLX index). Plotting on other assets will probably end up with lines that shoot off into space without any relationship to the underlying price action.
The upper, middle & lower curves can be projected into the future, which can be turned on or off in the indicator settings. The fibonacci levels can also be switched on/off. And the upper & lower curve intercepts & slopes can be tweaked.
I'm releasing this open-source, if you end up making something cool based off of this code, I don't need attribution but please hit me up on here or on twitter (same username) so I can check out what ya made. Thanks, hope y'all enjoy it.
Notas de Lançamento
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(just adding a picture that represents the indicator better)
Notas de Lançamento
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Added a "Dark or Light mode" option. "Dark mode" is default (and da based king, tbqh) and will plot white lines, "Light mode" will plot black lines.
hi is there a reason why when i put this indicator on my chart, instead of a log curve i got an exponantial curve instead... it does not look like th curve on the diagram above at all.. in fact the curve was a total oppocsite..
Steven_D_P
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@Mercydus, I have the same issue. I'm using it on the Binance BTCUSD chart and it doesn't work.
Edit: the solution was in the comments below; you need to have the graph in logarithmic scale.
FOMOSAPIEN1
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Do you foresee it needing to be tweaked in every market cycle, and can you give any advice/tips when tweaking it?
Feature: - Auto-update the curve (it would be a hard-coded, locked coordinate script like this code) - Shape of lines are all linear adjustable - Height difference of levels and zones are customizable - Support and resistance levels are highlighted
@quantadelic already left the community, he is unable to reply comments or publish new script. So we need to maintain this script by ourselves now.
SebastianofMoon
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Wow nice, thanks !!! Awesome!!
aaahopper
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Love the indicator and want to thank you for keeping it open for modifications.
I have modified it to fit in the smaller time-frames for the intraday traders.
Thank you for your great work and very generous of you.