CDC_BTC Rainbow Road — Indicator by piriya33

bandsandchannels movingaverage bitcoin rainbow

This is a simple script intended for use with Bitcoin only.
Inspired by Lyn Alden's 2 years SMA channels

I decided to make one for myself just for fun but ended up adding a few more lines of code
the bands show Fibonacci levels in and outside of the channels.

The base line uses a 730 day simple moving average.

Each zones can be considered as a general guidelines for accumulation / distribution of wealth in Bitcoin.

Release Notes:

Added ability to adjust the Fibonacci Levels

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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