OPEN-SOURCE SCRIPT
BTC TOTALVOLUME MOMENTUM: Onchain
This is an indicator for Bitcoin based on on-chain volume. It is important in several ways.
The upward trend of the red line indicates the increase in trading volume and the possibility of an upward trend in the future
The downward trend of the red line indicates a decrease in trading volume and the possibility of a price decrease in the future
The bullish crossover of the red line with the blue line is a confirmation of the bullish trend
A bearish crossover is confirmation of a bearish trend
The upward trend of the red line indicates the increase in trading volume and the possibility of an upward trend in the future
The downward trend of the red line indicates a decrease in trading volume and the possibility of a price decrease in the future
The bullish crossover of the red line with the blue line is a confirmation of the bullish trend
A bearish crossover is confirmation of a bearish trend
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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