filipmartinsson

BSI V2.1

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BSI combines technical analysis with onchcain analysis with data from the Bitcoin Blockchain.


This indicator has 3 components.

1. Trend

2. Cloud

3. Onchain

Setup:

The full indicator, with all 3 components, only works on BTC due to limitations in the available onchain data. But the indicator can be added to other crypto asset charts as well, but then you need to disable the On-Chain data from the indicator settings.

You can adjust the other settings of the indicator as well, but we recommend keeping them stock.

We recommend to use the indicator on a DAILY timeframe , but it can we used on shorter time frames as well.

Using BSI:
Here we'll start by going through how you can use each component individually, and then talk about how you can combine them at the end.

Let's start with component no 1, the Short Term Bias Signal. This is described with the thin red and yellow lines. When the line is yellow, it indicates a bullish short term trend in the market. This line can work as support and as a reference point for a potential trailing stop loss. Once the price break below this yellow line, the short term trend has shifted and is now bearish . Here, the line will turn red and it will stay red until the price breaks above this line.

Moving on to the long term trend and component no 2. This is an EMA-cloud, using two exponential moving averages with different lengths. When the shorter EMA is above the longer EMA , the cloud turns yellow. This indicates that the market is long term bullish . You could look at the shift in color in the cloud as a buy/sell signal, but this is generally too lagging to be of any help. The cloud turns color too slowly in order to be used as a signal. Instead, we use the cloud in 3 ways.

1. Price in relation to the cloud. If the price is above the cloud, then we are long term bullish . If the price is below the cloud, then we are long term bearish .

2. As a long term support/resistance area for the price. The EMA cloud is a good area to look for rejections and turns. When the market is long term bullish , the price tend to "come back" to the cloud when it drops (look at the 2017 bull run). It reverts back to the "mean". This means that you should be cautious when the price moves too far away from the cloud. The price always returns back to the cloud at some point. In a bear market, the cloud works in reverse. It's a resistance zone where the price has a good chance of turning back down.

3. Expansion/contraction of the cloud. When the cloud is expands very quickly, it's a good sign of a top. The broader the cloud is, the higher are the chances of a shift in the long term trend.

Finally, we have the on-chain component. This is the most unique component in this indicator and something that we continue to develop and improve. As of now, this indicator will tell you if there is aggressive buying or selling in the market.



***DISCLAIMER***
The BSI indicator is only created as RESEARCH MATERIAL for you.

It is NOT FINANCIAL ADVICE.
It is NOT LEGAL ADVICE.
THIS INDICATOR DOES NOT TELL YOU WHEN TO BUY OR WHEN TO SELL.
YOU MAKE YOUR OWN INVESTMENT DECISIONS.

Ivan on Tech is not your financial or legal adviser. We are educators and researchers.
This research report is intended as a starting point in your own due-diligence process. Your decisions regarding whether or not to invest in crypto-currencies are entirely up to you.
Any profits you make, or losses you suffer, are completely your responsibility.

Ivan on Tech does not provide individually tailored investment advice and does not take a subscriber’s or anyone’s personal circumstances into consideration when discussing investments; nor is Ivan on Tech registered as an investment adviser or broker-dealer in any jurisdiction.

It is very possible, and quite commonplace, to lose money when investing
in cryptocurrencies. You could lose some of your money.
You could LOSE ALL of your money!

Remember, you are under no requirement or obligation to invest in anything.
If you choose to do so, please use common sense. Don't risk money you can't afford to lose. Talk to your licensed financial and legal advisers. Educate yourself with respect to all the risks involved before making any financial investment.

Crypto markets can, and do, move very quickly and are well known for their volatility .
Keep this in mind when evaluating the information presented.

We CAN NOT GUARANTEE the accuracy of the information presented.

Information can change, become irrelevant, be subject to technical problems, or can be inaccurate as a result of many other factors beyond our control. It is your responsibility to verify information for yourself before investing.

Thank you for reading these important disclosures and disclaimers.
Release Notes: Update standard chart
Release Notes: We have made big improvements on the onchain part of BSI. Now we have a gradual system which will shift from bullish to bearish depending on onchain activity. More updates to come in the near future!!
Release Notes: Switched to a better visualization of the onchain data.
Release Notes: Better naming
Clearer settings
Release Notes: Added alert conditions to the short term trend component. Now you can easily set up tradingview alerts that fire when the short term trend component turns from bullish/bearish.
Release Notes: New view for displaying the onchain data without messing with the auto-zoom. If you have problems with the zoom, you can enable this view in BSI settings by toggling the option "Enable On-Chain View 2".
Release Notes: Enable the user to customize the colors of the onchain indicator.
Release Notes: Big BSI update!!

Under the hood, we have added more onchain sources, which has allowed us to pinpoint market moves way better. This introduces a new component to the chart, Onchain Triggers. These will show you when the long term Bullish or Bearish trend is likely to end - according to our on-chain data.


As you can see, this introduces 3 new symbols. I don't think they need a lot of explanation. But let me summarize:

When you see the small orange dot, it's a warning sign of a potential trend shift coming to the downside.

When you see a red arrow, it's a sign that the long term bullish trend is coming to an end.

When you see a green arrow, it's a sign that the long term bearish trend is coming to an end.

As you can see, these have been very accurate in the past. And all of these signals are based on new onchain data that we managed to pull into tradingview, including both miner-income data, bitcoin inflation numbers and transaction fees.

I'm super excited to start using this myself and I hope you will love it as much as I do. It's available right now in your account, as we speak.

We are currently working on updating the user guide to add these new features there as well.
Release Notes: Updated color of bearish trend switch dot from blue to red, due to confusion with onchain trend shifts.
Release Notes: We solved a problem with the recently added Onchain Trend Shifts where the indicator was dependent on which exchange the user used in Tradingview. This problem resulted in vastly different trend shift indications depending if you used the price feed from Bitstamp, Coinbase or Bybit etc.

This has now been resolved. The onchain sources for the Onchain Trend shifts are now completely independent from the exchange and price feed of the exchange. This means you will now get the same indications regardless of exchange and price feed.

Like all other onchain components, this is still only usable on Bitcoin trading pairs.

In order to get the updated version, remove the indicator from your chart and add it back on from the indicator menu.

For questions, email support@ivan.academy.
Release Notes: Small fix also related to the previous update.
Release Notes: Better support for trading pairs with short price history.

Onchain trigger update: Orange dot replaced by orange arrow for clarity.
Release Notes: Fix to previous update
Release Notes: Updated the look of the trend component where you now can see both support and resistance as a smaller, short term cloud. Otherwise, functionality of the trend component has not changed.
Release Notes: Fix for background fill on the new trend indicator style. Added green color to labels, similar to the cloud. Increased cloud transparency.
Release Notes: Changed previewed asset to BTCUSD
Release Notes: Small bug fixes.
Release Notes: We've had some issues in the recent days with data fluctuations in the on-chain sources that are available through tradingview. This has led to some of the on-chain signals to appear/disappear from historic candles.

Unfortunately, there is nothing we can do to change the data source or try to improve it, as it's delivered 100% by tradingview.

However, we have made an attempt in this update to compensate for the fluctuations and create a better and more clear user experience. Even though we can't guarantee that this will fix the issue for ever, this should provide a more stable user experience until tradingviews partners improve their reliability.
Release Notes: Important BSI update.

There was a gap in the on-chain data from tradingviews sources, meaning there was one day without onchain data. This led the BSI indicator to behave weirdly. Even though the underlying data source issue is out of our control, the issue it caused has now been resolved.
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