Bitcoin: Top & Bottom Mini-Algo

Here we have a mini-algorithm that tries to show absolute 4-year-cycle top and bottom zones for the case of the BraveNewCoin Liquid Index ( BLX ) for Bitcoin on the weekly (W) timeframe by using several oscillators as RSI , VPCI etc. employed with a custom logic. When the background gets red we might be near to a cycle peak, and when it gets green we might be near to the absolute bottom of the current cycle. Note that only absolute top/bottoms are indicated (at least since the end of 2013), so that the current strong drop in March 2020 was correctly not tagged, as it wasn't the lowest price of the current cycle.

It is best to combine this mini-algorithm with some of my boundary indicators for BLX , e.g. "Bitcoin: Price Action Integrals", for confluence . For the next peak one could then watch for the mini-algo to go red and for the price to hit the boundary. You can change the background transparency if you like to have this indicator be more unobstrusive on the chart.

For access please contact me via DM on TradingView or on Twitter (linked on my TradingView profile and my signature).
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great work, looking forward to seeing how it plays out
+1 Reply
This will be interesting
+1 Reply
I see the top in last 2 "tops" is actually huge range - example 200-1000 usd... not seems very efficient in that regard
Dean_Trader cahtreber
@cahtreber, so first those are "top and bottom zones" used for confluence, as mentioned. secondly if you would've bought BTC in Jan 2015 for $210 and sold in Dec 2017 for $19000 instead of $20000, how mad would you be about this indicator?;)
cahtreber Dean_Trader
@Dean_Trader, Yeah but you do not need this indicator for this huge range, simple MA on weekly could do better. It is one thing to buy at 200 another on 1000; over even worse 1-24 range. I mean you are beeing uncritical here
cahtreber Dean_Trader
@Dean_Trader, Nevertheless good job I appreciate your effort, with little tweak and confluence it is usefull. thank you
+1 Reply
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