OPEN-SOURCE SCRIPT
Covid-19 CFR, Difference Indicator [Bitduke]
Simple indicator to track case fatality rate and difference in deaths | recovered cases for novel coronavirus. It could help to trace the impact on the stock market and cryptocurrencies.
[Red line] Case fatality rate (CFR) - an indicator equal to the ratio of the number of deaths from a disease to the number of patients with this disease for a certain period of time. That is, if CFR = 30% it means one died, two cured out of 3 infected.
[Green line] The percentage change between recovered cases
[Black line] The percentage change between deaths
Assumption
It can be assumed that if we consider bitcoin as a store of value, then when the situation getting worse (CFR + deaths difference increase and recovery difference decreases) bitcoin price tends to rise and vice versa.
But this is only an assumption that requires additional tests; there is still little data for a robust statistical analysis.
[Red line] Case fatality rate (CFR) - an indicator equal to the ratio of the number of deaths from a disease to the number of patients with this disease for a certain period of time. That is, if CFR = 30% it means one died, two cured out of 3 infected.
[Green line] The percentage change between recovered cases
[Black line] The percentage change between deaths
Assumption
It can be assumed that if we consider bitcoin as a store of value, then when the situation getting worse (CFR + deaths difference increase and recovery difference decreases) bitcoin price tends to rise and vice versa.
But this is only an assumption that requires additional tests; there is still little data for a robust statistical analysis.
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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