OPEN-SOURCE SCRIPT
Bitcoin Daily Support/Resistance
A new indicator for tradingview.
Indicator Overview
The 2-Year MA Multiplier is intended to be used as a long term investment tool.
It highlights periods where buying or selling Bitcoin during those times would have produced outsized returns.
To do this, it uses a moving average (MA) line, the 2yr MA, and also a multiplication of that moving average line, 2yr MA x5.
Note: the x5 multiplication is of the price values of the 2yr moving average, not of its time period.
Buying Bitcoin when price drops below the 2yr MA (green line) has historically generated outsized returns. Selling Bitcoin when price goes above the 2yr MA x 5 (red line) has been historically effective for taking profit.
Why This Happens
As Bitcoin is adopted, it moves through market cycles. These are created by periods where market participants are over-excited causing the price to over-extend, and periods where they are overly pessimistic where the price over-contracts. Identifying and understanding these periods can be beneficial to the long term investor.
This tool is a simple and effective way to highlight those periods
MA 50/100/150 was historically good support and resistance. When we cross them we have a new trend that is established.
Indicator Overview
The 2-Year MA Multiplier is intended to be used as a long term investment tool.
It highlights periods where buying or selling Bitcoin during those times would have produced outsized returns.
To do this, it uses a moving average (MA) line, the 2yr MA, and also a multiplication of that moving average line, 2yr MA x5.
Note: the x5 multiplication is of the price values of the 2yr moving average, not of its time period.
Buying Bitcoin when price drops below the 2yr MA (green line) has historically generated outsized returns. Selling Bitcoin when price goes above the 2yr MA x 5 (red line) has been historically effective for taking profit.
Why This Happens
As Bitcoin is adopted, it moves through market cycles. These are created by periods where market participants are over-excited causing the price to over-extend, and periods where they are overly pessimistic where the price over-contracts. Identifying and understanding these periods can be beneficial to the long term investor.
This tool is a simple and effective way to highlight those periods
MA 50/100/150 was historically good support and resistance. When we cross them we have a new trend that is established.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menjadikannya sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Hormat untuk penulisnya! Meskipun anda dapat menggunakannya secara gratis, ingatlah bahwa penerbitan ulang kode tersebut tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menjadikannya sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Hormat untuk penulisnya! Meskipun anda dapat menggunakannya secara gratis, ingatlah bahwa penerbitan ulang kode tersebut tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.