OPEN-SOURCE SCRIPT
Cryptotutor - Pi Cycle Top Indicator
Updated
The Pi Cycle Top Indicator is a tool designed to identify potential price peaks (tops) in Bitcoin during bull markets. It uses two moving averages (MAs): a 111-day SMA and a 350-day SMA multiplied by a factor of 2. When the 111-SMA crosses above the 350-SMA (x2), it signals a potential market top. This is visually displayed on the chart with a symbol, such as a magnet icon, indicating a possible trend reversal. Historically, the indicator has been effective in predicting major Bitcoin cycle peaks and is widely used by experienced traders for market analysis.
Release Notes
Color change.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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