[SCL] Bitcoin Hashrate Dips (Miner Capitulation) — Indicator by SimpleCryptoLife

williamsfractal averagetruerange hashrate hashpower mining miners

Gives long-term buy signals for Bitcoin from dips and recoveries in the hashrate (the "miner capitulation" theory). It has an overlay and a standalone mode and is fully configurable. It uses Williams Lows and ATR instead of moving averages.

Features that might be interesting for Pinescripters:
+ Automatic (as far as is possible currently) adjustment of plots for overlay and standalone display modes.
+ A neat label function for debugging floats
+ Fully commented
+ The debug that I used to overcome problems in developing it is left in
+ Ideas for how to deal with a wildly oscillating and exponentially increasing data source

You need to run this indicator on the Bitcoin daily chart for it to make any sense. The best is a BTC/USD chart with a long history, such as BNC:BLX.

🆓 All my free scripts: simplecrypto.life/free-scripts/
⭐️ Hire me: simplecrypto.life/hire-pine-script-coder/
🙋 Free help with Pinescript: simplecrypto.life/get-help-with-pinescript/

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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