OPEN-SOURCE SCRIPT
Market Regime Filter for Bitcoin
A quick indicator that shows what type of market we are in.
To be used on Daily Charts.
The color gray shows we are lacking conviction and we are waiting for a move.
Red means bear market - stay out or reduce positions.
Green means it's a bull.
There's 2 levels of intensity. Regular bull (light green), Super Bull (dark green),
Regular bear (light red) and Super Bear (dark red).
To be paired with the volatility filter indicator - the best bull markets start with
low volatility and end with bubble characteristics (volatile Super Bull)
To be used on Daily Charts.
The color gray shows we are lacking conviction and we are waiting for a move.
Red means bear market - stay out or reduce positions.
Green means it's a bull.
There's 2 levels of intensity. Regular bull (light green), Super Bull (dark green),
Regular bear (light red) and Super Bear (dark red).
To be paired with the volatility filter indicator - the best bull markets start with
low volatility and end with bubble characteristics (volatile Super Bull)
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.
Disclaimer
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