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OPEN-SOURCE SCRIPT

Hash Ribbons

By capriole_charles
Updated
Buying during Miner Capitulation yields wonderful returns.

The best buy signals occur on Hash Rate "recovery", and when price momentum is also positive.

Historically, this strategy has yielded average returns to cycle peak of >5000%, with max Drawdown of -15%.

Follow me to learn more about this indicator.
Release Notes
Updated shape titles.
Release Notes
Cleaned up chart/code. No technical changes.
Release Notes
More chart formatting for clarity on "light" TradingView theme.

No technical changes.
Release Notes
Release Notes: Update v1.1


  • All prior calculation logic remains unchanged.

    This Update includes:
  • Fix of re-painting issue on live data. This stop false alerts before the daily bar has closed. On live data, yesterday’s Hash Rates will be used regardless of the Bitcoin ticker symbol you are looking at.
  • Addition of multi-time-frame management. This now gives you the ability to use this indicator on any time-frame (Minutely, Hourly, Daily) and always know you are looking at the Hash rate values from yesterday's close.


Enjoy!
Release Notes
Added optional Hash Rate "Growth" Oscillator.

To use, change the indicator setting "Plot Type" to "Oscillator".

For more information, see my TradingView "Idea": "Miner Confusion? An Unusual State in Hash Rate Growth"

Miner Confusion? An Unusual State in Hash Rate Growth
Release Notes
Added "Capitulation" and "Recovery" text to plot
Release Notes
  • Added chart "alerts" for easier notification
  • Added chart shape "titles"
  • Minor chart formatting tweaks
  • No calculation changes
Release Notes
  • Added notes in code explaining how to use the "Spring" (copied below)
  • Added option to display raw Hash Rate
  • Fixed minor bug where 1 blue circle in 2012 didn't appear on the chart



The "Spring" is the confirmed Miner Capitulation period:
- The 1st "gray" circle is the start of Capitulation (1 month Hash Rate crosses UNDER 2 month Hash Rate)
- Last "green" circle is the end of Capitulation (1 month Hash Rate crosses OVER 2 month Hash Rate)
- The "greener" the spring gets (up until blue) represents Hash Rate recovery (it is increasing)
- The "blue" circle is the first instance of positive momentum following recovery of Hash Rate (1m HR > 2m HR). This is historically a rewarding place to buy with limited downside.
Release Notes
Small fix for intra-day time frame management.
Release Notes
Minor code tweak.
Release Notes
Minor code optimization - no logic change.
Release Notes
Updated projected date for the 3rd halving in May 2020.
Release Notes
sourcing
Release Notes
Sourcing update
Release Notes
Updated script to use "Into the block" datasource given Nasdaq data hasn't updated in a month.
Bitcoin (Cryptocurrency)BTCbuybuysignalhashrateLONGminerminersMoving Averages

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.

Want to use this script on a chart?

capriole_charles
capriole.com
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