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SebastianofMoon
Aug 30, 2021 9:30 AM

BTC trendchannel of diminishing returns 

BNC:BLX1W
Bitcoin Liquid IndexBrave New Coin

Description

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Hi, I just wanted to share the Macro for the logarithmic trendchannel. The one I believe to be correct, because it's based on the law of diminishing returns and decreasing bitcoin volatility.
I didn't write it myself, credits to Quantadelic aka Pinescript Pleb aka Stealer of Alpha & Destroyer of Discords who wrote the script.

//@version=4
//
// An indicator by @quantadelic aka Pinescript Pleb aka Stealer of Alpha & Destroyer of Discords
//
// "I drink your milkshake! I drink it up."
//
// No rights reserved, copy, paste, do what you want.
//

study(title="Bitcoin Logarithmic Growth Curves", shorttitle="Bitcoin Log Growth Curves", overlay=true)

// INPUTS
DarkOrLight = input("Dark", title="Dark mode or Light mode?", options=["Dark", "Light"])
ShowFibs = input("Y", title="Show Fibonacci Levels?", options=["Y","N"])
ShowExtensions= input("Y", title="Show Curve Projections?", options=["Y","N"])
HighIntercept = input(1.06930947, title="Top Curve Intercept", step=0.001)
HighSlope = input(0.00076, title="Top Curve Slope", step=0.00001)
LowIntercept = input(-3.0269716, title="Bottom Curve Intercept", step=0.001)
LowSlope = input(0.001329, title="Bottom Curve Slope", step=0.00001)

// TIME CALCS
TimeIndex = time < 1279670400000 ? 3.0 : (time - 1279670400000) / 86400000
Weight = (log10(TimeIndex + 10) * TimeIndex * TimeIndex - TimeIndex) / 30000
TimeDelta = time - time[1]

// TOP OF CHANNEL INTERCEPT & SLOPE CALCS
HighSlopeCum = HighSlope * TimeIndex
HighLogDev = TimeIndex > 2 ? log(Weight) + HighIntercept + HighSlopeCum : na

// BOTTOM OF CHANNEL INTERCEPT & SLOPE CALCS
LowSlopeCum = LowSlope * TimeIndex
LowLogDev = TimeIndex > 2 ? log(Weight) + LowIntercept + LowSlopeCum : na

// TOTAL CHANNEL LOG RANGE
LogRange = HighLogDev - LowLogDev

// FIBONACCI LEVELS
Fib9098Calc = (LogRange * 0.9098) + LowLogDev
Fib8541Calc = (LogRange * 0.8541) + LowLogDev
Fib7639Calc = (LogRange * 0.7639) + LowLogDev
Fib618Calc = (LogRange * 0.618) + LowLogDev
MidCalc = (LogRange * 0.5) + LowLogDev
Fib382Calc = (LogRange * 0.382) + LowLogDev
Fib2361Calc = (LogRange * 0.2361) + LowLogDev
Fib1459Calc = (LogRange * 0.1459) + LowLogDev
Fib0902Calc = (LogRange * 0.0902) + LowLogDev

// SCALE LOG VARIABLES TO LINEAR
HighDev = pow(2.718281828459, HighLogDev)
Fib9098Dev = ShowFibs == "Y" ? pow(2.718281828459, Fib9098Calc) : na
Fib8541Dev = ShowFibs == "Y" ? pow(2.718281828459, Fib8541Calc) : na
Fib7639Dev = ShowFibs == "Y" ? pow(2.718281828459, Fib7639Calc) : na
Fib618Dev = ShowFibs == "Y" ? pow(2.718281828459, Fib618Calc) : na
MidDev = pow(2.718281828459, MidCalc)
Fib382Dev = ShowFibs == "Y" ? pow(2.718281828459, Fib382Calc) : na
Fib2361Dev = ShowFibs == "Y" ? pow(2.718281828459, Fib2361Calc) : na
Fib1459Dev = ShowFibs == "Y" ? pow(2.718281828459, Fib1459Calc) : na
Fib0902Dev = ShowFibs == "Y" ? pow(2.718281828459, Fib0902Calc) : na
LowDev = pow(2.718281828459, LowLogDev)

// COLOR SCHEME
ColorScheme = DarkOrLight == "Dark" ? color(color.white) : color(color.black)

// PLOTS
plot(HighDev, color=ColorScheme, transp=0, title="100% - Top of Channel")
plot(Fib9098Dev, color=ColorScheme, transp=50, title="90.98% - Fibonacci Level")
plot(Fib8541Dev, color=ColorScheme, transp=50, title="85.41% - Fibonacci Level")
plot(Fib7639Dev, color=ColorScheme, transp=50, title="76.39% - Fibonacci Level")
plot(Fib618Dev, color=ColorScheme, transp=50, title="61.80% - Fibonacci Level")
plot(MidDev, color=ColorScheme, transp=0, title="50% - Middle of Channel")
plot(Fib382Dev, color=ColorScheme, transp=50, title="38.20% - Fibonacci Level")
plot(Fib2361Dev, color=ColorScheme, transp=50, title="23.61% - Fibonacci Level")
plot(Fib1459Dev, color=ColorScheme, transp=50, title="14.59% - Fibonacci Level")
plot(Fib0902Dev, color=ColorScheme, transp=50, title="9.02% - Fibonacci Level")
plot(LowDev, color=ColorScheme, transp=0, title="0% - Bottom of Channel")



//////////////////////////////////////////////////////////
// //
// CURVE EXTENSION DRAWING FUNCTION & HELPER VARIABLES //
// //
//////////////////////////////////////////////////////////

// CURVE EXTENSION FUNCTION
ExtenZe(_i, _slope, _intercept) =>
TI = ((time + TimeDelta *_i) -1279670400000) / 86400000
W = (log10(TI + 10) * TI * TI - TI) / 30000
HSC = _slope * TI
HLD = log(W) + _intercept + HSC
HD = pow(2.718281828459, HLD)
HD

// VARIABLES FOR ADJUSTING LENGTH OF CURVE EXTENSIONS RELATIVE TO CHART TIME-FRAME
ForLoopStep = timeframe.ismonthly == 1 ? ceil( 12 / timeframe.multiplier) :
timeframe.isweekly == 1 ? ceil(26 / timeframe.multiplier) :
timeframe.isdaily == 1 ? ceil(91 / timeframe.multiplier) :
(timeframe.isminutes == 1) and (timeframe.multiplier > 59) ? ceil(10080 / timeframe.multiplier) : na
ForLoopMax = na(ForLoopStep) ? na : ForLoopStep * 13

// MID CURVE SLOPE & INTERCEPT
MidSlope = (HighSlope + LowSlope) * 0.5
MidIntercept = (HighIntercept + LowIntercept) * 0.5

// CHECK IF LAST BAR & "Show Curve Projections" IS CHECKED, THEN DRAW CURVE EXTENZES
if barstate.islast and ShowExtensions == "Y"
for i = 0 to ForLoopMax-1 by ForLoopStep
line.new(time + TimeDelta * i, ExtenZe(i, HighSlope, HighIntercept), time + TimeDelta * (i + ForLoopStep), ExtenZe(i + ForLoopStep, HighSlope, HighIntercept), xloc=xloc.bar_time, color=ColorScheme)
line.new(time + TimeDelta * i, ExtenZe(i, LowSlope, LowIntercept), time + TimeDelta * (i + ForLoopStep), ExtenZe(i + ForLoopStep, LowSlope, LowIntercept), xloc=xloc.bar_time, color=ColorScheme)
line.new(time + TimeDelta * i, ExtenZe(i, MidSlope, MidIntercept), time + TimeDelta * (i + ForLoopStep), ExtenZe(i + ForLoopStep, MidSlope, MidIntercept), xloc=xloc.bar_time, color=ColorScheme)
Beyond Technical AnalysisTechnical IndicatorsBTCBitcoin (Cryptocurrency)BTCUSD
Comments
CrazyHorse1788
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When it was copied the tabs didn't work. Save the Code, and where it does not compile, have a look at the error and tab out the code that is causing the error.
LaminarM
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Can you publish this script please. I copied it and I'm getting errors so it doesn't work on my chart. Thanks for sharing!
Amir_Khan_15000
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@LaminarM, It doesn't work for me either, please publish it
SebastianofMoon
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@Amir_Khan_15000, Hello guys, ok that's weird, I will then publish it.
SebastianofMoon
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@Amir_Khan_15000, Ok, I published it:
tradingview.com/script/1ewURTKL-Bitcoin-Logarithmic-Growth-Channel/
NokitaKaze
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We hid this script because it violates one or more of our House Rules.

Ooookay. Here is the original: ru.tradingview.com/script/d0JTc61s-Bitcoin-Logarithmic-Growth-Curves/
gigabyte3d
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Is this still valid?
ovibercea
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BTC new ATH, here we go!
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