I'm reposting the Saylor to Schiff Ratio indicator that was originally developed by Michael Silva
This indicator may be used to predict key momentum shifts in the price of Bitcoin
I've set up this indicator for it to be used on the weekly timeframe as was intended.
The indicator plots in any BTCUSD spot, futures , BLX index and BTCEUR .
It paints in all time frames, but Weekly time frame is the correct one to interpret the 'official' read of it.
For that reason, I've enabled by default an option that forces the indicator to display on the Weekly value even though the time frame could be higher or lower.
Credit for this idea goes to Michael Silva: @mikepsilva
Release Notes
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Hello all,
With some feedback and support I have updated the Saylor to Schiff Ratio! The PineScript version is now updated to version 5 and will now display correctly on ALL timeframes. I have also added buy and sell alerts to the chart which are enabled by default but may be disabled in the options.
I hope you all enjoy!
Release Notes
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Updated color to be gray instead of white for users utilizing light mode vs. dark mode
@goncalo_veiga, of course! I wish you success in your future trades and investments!
rinogo
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Seems a little wonky on non-weekly timeframes (e.g. Daily). Could the indicator be updated to support Daily?
nickolassteel
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@rinogo, hello! Sorry - the indicator was designed originally to sample data from the weekly timeframe; so in any other timeframe the indicator will be skewed.
From my understanding there is no way to granulate the data for the other timeframes. The weekly timeframe is how the indicator was originally thought out by Michael Silva.
Sorry!
wiseguytrading
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Hey Nick, thank you for the indicator! Just wanted to ask I recently noticed my lines on the indicator have disappear and the only thing that shows is the buy and sell triggers. Do you have any idea why this might be the case? I tried unadding and reading to my favorites and same thing occurs.
nickolassteel
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@wiseguytrading, hello! Yes, the line is coded to be white, so if you use light mode it is invisible. I will update the script soon so that the line is Grey so all users may see it. Sorry for the inconvenience. In the meantime you can change the line color in script settings
wiseguytrading
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@nickolassteel, I appreciate the reply and again thanks for all your work on this it’s awesome!
Sirandy3
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Really cool! Thanks! How do you get it to refresh? Weekly bars are moving forward, but the indicator doesn't not seem to be updating (stuck on week of Feb 21). I'm not sure what I am doing wrong. Appreciate you
nickolassteel
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@Sirandy3, Hello friend, I believe that you must add the indicator to your chart in order for it to update properly. If you are pressing the play button on here then it wont update for whatever reason. Search "Saylor to Schiff" under community scripts and add to chart!
Message me if you are having any trouble!
Sirandy3
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@nickolassteel, Thank you again! This works and is a really neat tool!