OPEN-SOURCE SCRIPT
Bitcoin HODL Indicator
// Bitcoin Buy & Hold Indicator (HODL Signal)
//version=5
indicator("Bitcoin HODL Indicator", overlay=true)
// Moving Averages
ma_200w = ta.sma(close, 1400) // Approximate 200-week MA for daily chart
plot(ma_200w, color=color.blue, linewidth=2, title="200WMA")
// MVRV Z-Score Approximation (Using RSI as a Proxy for Simplicity)
mvrv = ta.rsi(close, 90)
low_mvrv = 25 // Adjust based on BTC history
high_mvrv = 70 // Overbought zone
// Pi Cycle Bottom Approximation
ma_111 = ta.sma(close, 111)
ma_350x2 = ta.sma(close, 350) * 2
// Buy Signal Logic
buy_signal = ta.crossover(close, ma_200w) or (mvrv < low_mvrv and ta.crossover(ma_111, ma_350x2))
// Plot Buy Signals
plotshape(buy_signal, location=location.belowbar, color=color.green, style=shape.labelup, size=size.small, title="BUY Signal")
// Alerts
alertcondition(buy_signal, title="Bitcoin Buy Signal", message="Bitcoin is in an accumulation zone! 🚀")
// Background Color for Accumulation Zones
bgcolor(buy_signal ? color.green : na, transp=90)
//version=5
indicator("Bitcoin HODL Indicator", overlay=true)
// Moving Averages
ma_200w = ta.sma(close, 1400) // Approximate 200-week MA for daily chart
plot(ma_200w, color=color.blue, linewidth=2, title="200WMA")
// MVRV Z-Score Approximation (Using RSI as a Proxy for Simplicity)
mvrv = ta.rsi(close, 90)
low_mvrv = 25 // Adjust based on BTC history
high_mvrv = 70 // Overbought zone
// Pi Cycle Bottom Approximation
ma_111 = ta.sma(close, 111)
ma_350x2 = ta.sma(close, 350) * 2
// Buy Signal Logic
buy_signal = ta.crossover(close, ma_200w) or (mvrv < low_mvrv and ta.crossover(ma_111, ma_350x2))
// Plot Buy Signals
plotshape(buy_signal, location=location.belowbar, color=color.green, style=shape.labelup, size=size.small, title="BUY Signal")
// Alerts
alertcondition(buy_signal, title="Bitcoin Buy Signal", message="Bitcoin is in an accumulation zone! 🚀")
// Background Color for Accumulation Zones
bgcolor(buy_signal ? color.green : na, transp=90)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.