BTC Supply in Profits and Losses Z-ScoreThe BTC Supply in Profits and Losses Z-Score is a fundamental Bitcoin valuation indicator that quantifies the relative supply of Bitcoin in profit versus loss. This Z-score measures the deviation of the current profit-loss difference of Bitcoin addresses from its historical average, providing insights into potential market extremes.
Purpose:
The Z-score of BTC Supply in Profits and Losses is designed to assess whether the current state of Bitcoin supply (as a percentage of addresses in profit vs. loss) is within a typical range or if it has moved into an extreme condition. A higher or lower Z-score suggests a more significant deviation from the average, which could indicate overbought or oversold conditions.
Calculation:
The Z-score is calculated based on the difference between the percentage of Bitcoin addresses in profit and those in loss. This difference is then normalized using its historical mean and standard deviation over a defined period (e.g., 365 days). The result is a standardized score that shows how extreme the current profit-loss difference is compared to past values.
Usage:
Positive Z-score: Indicates that the percentage of Bitcoin addresses in profit is significantly higher than the percentage in loss, suggesting potential overbought conditions.
Negative Z-score: Indicates that the percentage of Bitcoin addresses in loss is higher, suggesting potential oversold conditions.
Red Zone (-3 to -2): Strong overbought conditions.
Green Zone (2 to 3): Strong oversold conditions.
Important Considerations:
This indicator should not be used in isolation. While the Z-score of supply in profits and losses can provide valuable insights into market sentiment, it is crucial to combine it with other valuation indicators and analysis tools to create a more comprehensive market assessment. Relying on a single indicator may lead to misleading conclusions, especially in volatile markets.
By using this indicator as part of a broader strategy, traders and investors can gain a better understanding of market cycles, helping them make more informed decisions about when Bitcoin may be overbought or oversold.
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MVRV Z-Score for BTCThe MVRV Z-Score for Bitcoin is a fundamental valuation tool used to assess whether Bitcoin is overvalued or undervalued relative to its market cycle. The Z-Score is based on the Market Value (MCAP) of Bitcoin, comparing its current price to the historical average, adjusted for volatility. This metric helps investors identify extreme market conditions, suggesting potential buy or sell opportunities based on historical trends.
Key Features:
Z-Score Calculation: The Z-Score compares Bitcoin's current market cap to its historical mean and standard deviation over a selected period. This standardizes the data, making it easier to compare different timeframes and market conditions.
Data Sources:
Bitcoin Market Capitalization (BTC_MCAP): This is retrieved from Glassnode.
Realized Market Capitalization (BTC_MCAPREAL): This provides an adjusted market cap figure, also sourced from CoinMetrics.
Input Parameters:
Z-Score Length: Users can input the number of days (default is 365) over which the Z-Score is calculated.
Lowest/Highest Length: This is the number of years (default is 4 years) used to define the highest and lowest Z-Score for rescaling purposes.
Rescaling:
The Z-Score is rescaled to fit within a range of -3 to +3. This helps visualize market extremes and gives a more standardized perspective of Bitcoin’s market state.
Usage:
Positive Z-score: Indicates an oversold market, where Bitcoin could be undervalued compared to historical averages.
Negative Z-score: Indicates an overbought market, suggesting that Bitcoin may be trading above its intrinsic value.
Red Zone (-3 to -2): Strong overbought conditions.
Green Zone (2 to 3): Strong oversold conditions.
Important Considerations:
This indicator should not be used in isolation. While the MVRV Z-Score provides valuable insights into Bitcoin's market valuation relative to historical trends, it is essential to complement it with other technical and fundamental analysis tools for a more comprehensive market evaluation. Relying solely on the Z-Score could lead to inaccurate conclusions, particularly in volatile or uncertain market conditions.
By incorporating the MVRV Z-Score into a broader strategy, traders and investors can enhance their understanding of market cycles and more accurately identify periods when Bitcoin may be overbought or oversold. This holistic approach increases the likelihood of making well-informed, data-driven decisions.
BTC Supply in Profits and Losses Z-ScoreThe BTC Supply in Profits and Losses Z-Score is a fundamental Bitcoin valuation indicator that quantifies the relative supply of Bitcoin in profit versus loss. This Z-score measures the deviation of the current profit-loss difference of Bitcoin addresses from its historical average, providing insights into potential market extremes.
Purpose :
The Z-score of BTC Supply in Profits and Losses is designed to assess whether the current state of Bitcoin supply (as a percentage of addresses in profit vs. loss) is within a typical range or if it has moved into an extreme condition. A higher or lower Z-score suggests a more significant deviation from the average, which could indicate overbought or oversold conditions.
Calculation:
The Z-score is calculated based on the difference between the percentage of Bitcoin addresses in profit and those in loss. This difference is then normalized using its historical mean and standard deviation over a defined period (e.g., 365 days). The result is a standardized score that shows how extreme the current profit-loss difference is compared to past values.
Usage:
Positive Z-score: Indicates that the percentage of Bitcoin addresses in profit is significantly higher than the percentage in loss, suggesting potential overbought conditions.
Negative Z-score: Indicates that the percentage of Bitcoin addresses in loss is higher, suggesting potential oversold conditions.
Red Zone (-3 to -2): Strong overbought conditions.
Green Zone (2 to 3): Strong oversold conditions.
Important Considerations:
This indicator should not be used in isolation. While the Z-score of supply in profits and losses can provide valuable insights into market sentiment, it is crucial to combine it with other valuation indicators and analysis tools to create a more comprehensive market assessment. Relying on a single indicator may lead to misleading conclusions, especially in volatile markets.
By using this indicator as part of a broader strategy, traders and investors can gain a better understanding of market cycles, helping them make more informed decisions about when Bitcoin may be overbought or oversold.
Bitcoin Halving CountdownJust a simple Bitcoin halving countdown
Set up for the 2028 halving with the block height set at 1050000
Block height can be setup in the script settings for future halving
We don't have real time on-chain data on TradingView, so the script will update only once a day with a lag of one day (GLASSNODE data) until we get live data.
If you have any suggestions/questions leave a comment :)
Mescu
Reverse Stoch [BApig Gift] - on PanelMssive credit to Motgench, Balipour and Wugamlo for this script. This script is all of their good work.
It is basically just the non-on chart version which I've slightly tweaked off their script. This can be useful to reduce the clutter on the chart itself. Releasing it in the hope that it can be useful for the community
Enjoy!
BTC Active Address Momentum (On-chain)This indicator shows the difference between the % change in BTC price and the % change in BTC’s active addresses (BTC’s utility value).
- Dark red: Extreme overbought conditions
BTC price is increasing too fast and outgrows the increase in its utility value
(RSI of % change difference > 70)
- Light red: Overbought conditions
BTC price is increasing too fast and outgrows the increase in its utility value
(RSI of % change difference > 60)
- Dark green: Extreme oversold conditions
BTC price is dropping too fast and outruns the decrease in its utility value
(RSI of % change difference < 30)
- Light green: Oversold conditions
BTC price is dropping too fast and outruns the decrease in its utility value
(RSI of % change difference < 40)
*Not financial advice.
BTC Active Address Trend (On-chain)This indicator compares the % change in BTC price and the % change in BTC’s active addresses (BTC’s utility value).
1. % changes in BTC price & active addresses
- Orange line: BTC’s price change (%)
- Gray line: BTC’s active address change (%)
- Red/Yellow/Green lines: Bollinger bands for change in active address
2. Trend:
- Green circles: Bullish Sentiment Trend
Market sentiment is bullish and BTC price outgrows the increase in its utility value (overpricing)
- Red circles: Bearish Sentiment Trend
Market sentiment is bearish and BTC price drops more than the decrease in its utility value (underpricing)
3. Potential Re-Entries:
- Green/Red triangles: potential bullish/bearish entries
When % change of BTC price gets similar to that of active addresses
*Not financial advice.
Supply Weighted Moving Average: OnchinUse this Onchain Channel in Weekly Timeframe - on BTCUSD BUTSTAMP Chart:
This Moving average channel is weighted based on BTC's new Supply:
I believe the slope of the Bitcoin trend line is correlated to the new supply and the issue of Halving.
The chart below shows this:
In fact, after each Halving, the supply is halved. Halving the supply increases the demand-for-supply ratio and increases the price. But the uptrend slope also halves after each halving.
Therefore, the slope of the bitcoin trend is correlated with the new supply rate. This is the logic of this new metric.
Accordingly, the moving average is weighted based on the new supply. This new channel can identify where bitcoin is too cheap or too expensive in the historical chart. It has also marked support/resistance Supply Weighted Moving Average.
BTC New Supply: OnchainThis Onchain Metric shows the sum of newly issued coins.
This metric is very useful for finding new bull run cycles in the market. The new bull run is accompanied by a significant drop in the new supply.
BTC Supply weighted channel: OnchainUse this oscillator in the weekly time frame and then draw the above linear channel
The premise of this idea is that the trend slope of the bitcoin price correlates with the bitcoin supply chart, which shows the total amount of bitcoin ever created/issued.
Therefore, Bitcoin price is weighted based on Bitcoin supply.
As a result, the above channel has been created, which is a linear channel, and it seems that it can be an oscillator to determine the bitcoin trend, as well as the tops and bottoms of the market.
Bitcoin seems to respect the bottom and top lines of this channel as well as its midline
OPAL - LibraI publish my OBV script for Volumes analysis & Volumes switch spotting.
This indicator include : On Balance Volumes, 6 EMAs based on Volumes, Regular and Hidden divergences with double pivot confirmation
OBV Colors is gradient : momentums with power will turn to lighter colors, momentums without power will turn to darker colors
1) OBV : On Balance Volumes
On-balance volume (OBV) is a form of technical analysis which enables traders to make predictions about future price movements based on the asset’s previous trading volume
OBV is mostly used in shares trading, because the volume has an especially large influence on the way share prices move
Trading volume is the amount that an asset has been traded during a given time period
Traders who use OBV believe that a sharp increase in trading volume , without a reciprocal increase in the asset’s price, will cause the market price to suddenly increase or decrease
Calculation :
OBV is a cumulative result, which means that it is effectively a running total of an asset’s trading volume
The OBV is the total volume , and it accounts for both positive and negative changes in an asset’s trading volume
2) EMAs & Cloud :
A bunch of 6 EMAs adapted on volumes, the last of the 6 EMAs ( EMA 6) forms a colored cloud with the OBV Line
EMA 1 is the first filter for OBV colors
EMA6 is the last filter for OBV colors
3) Multi Divergences :
Divergence detection based on 2 pivot levels verification (taken from OPAL - Newton)
Plots Regular and Hidden Divergences
Filtered with EMA 6
4) Alerts:
Set alerts on Divergences, regular, hidden, or both
Set alerts on OBV fast Crosses with EMA 1
Set alerts on OBV slow Crosses with EMA 6
This might help you to see OBV (volumes) movements clearly, that is not a bounded indicator like RSI or stoch's
Stick with the trends)
Everything is customizable, all the settings are unlocked
Wishing you success !
<o/
Glassnode BTC SOPR ToolkitSOPR stand for Spent Output Profit Ratio. It’s a Bitcoin on-chain metric that shows whether Bitcoin spent outputs (UTXO’s) are being realized in profit or loss. It’s calculated by dividing realized value by the value at creation (price sold / price paid).
The SOPR metric traditionally uses a baseline of 1 instead of 0. For the purposes of the script, I've changed the baseline to 0.
SOPR signals > 0 show the overall market is transaction at a profit.
SOPR signals < 0 show the overall market is transacting at a loss.
SOPR servers as a great short/mid-term indicator.
SOPR Toolkit Features
- Smoothed SOPR
- SOPR Spikes
Smoothed SOPR
By default, ‘Smoothed SOPR’ is shown which applies a smoothing function to SOPR. This helps to visualize the broader SOPR trend.
Smoothed SOPR is calculated by taking the difference between positive and negative SOPR values.
SOPR is split into separate arrays based on if it's above or below the baseline A moving average is then applied to each array, then subtracted to get the difference.
You can also change whether or not a SMA, EMA, or Volume Weighted Simple/Exponential moving average is used. The VWMA is calculated using Glassnode’s BTC Total Transfer Volume metric.
SOPR Spikes
Shows relevant SOPR spikes.
SOPR spikes is calculated by applying a Bollinger Band to SOPR. Only values spike outside the bands are shown.
Adjust the StdDev to show more/less relevant spikes.
Enjoy :)
SOPR - Spent Output Profit RatioThe SOPR (Spent Output Profit Ratio) indicator provides insight into macro market sentiment, profitability and losses taken over a particular time-frame. It reflects the degree of realised profit for all coins moved on-chain.
SOPR is measured by considering only coins moved the timescale considered (daily, hourly etc), and taking the ratio between the fiat value at the time of UTXO creation, and the fiat value when the UTXO is spent.
SOPR values greater than 1 implies that the coins moved that day are, on average, selling at a profit (price sold is greater than the price paid).
SOPR value less than 1 implies that the coins moved that day are, on average, selling at a loss (price sold is less than the price paid).
You have the ability to see the SOPR of BTC, ETH and LTC. You can also smooth the SOPR using an EMA or SMA of your choice.
Thank you to both TradingView and Glassnode for adding all the on-chain data
Stepping MAInput desired timeframe and etc
Ex: Timeframe Daily
Input 100
Will display daily moving of 100 on every timeframe
Multi ROIThis is really, really, really basic.
Its just 10 ROIs - Return On Investment- plots for the following periods:
1 week
1 month
1/2 year
1 year
2 year
3 year
4 year
5 year
6 year
7 year
It is meant for 1 day bars. Of course it will work anywhere and you can change the settings to fit your purposes but I thought these were the most useful periods.
Better OBVJust On balance volume but without the volume from the wick/shadow. Only considers volume in proportion to the body of the candles w.r.t. total length of the candle.
Bitcoin On-Chain OBVThe Bitcoin On-Chain OBV is a port of the classical volume oscillator that reflects the accumulation registered through the On-Chain Transactions.
It also allows to source through the aggregated combined exchange volumes.
The indicator can show the value either in BTC or USD.
Bitcoin Number of TransactionsThe Bitcoin Number of Transactions plots the amount of transactions registered on-chain on a daily basis.
Bitcoin On-Chain VolumeThe Bitcoin On-Chain Volume is a reflection of the transactional volume registered in the blockchain.
The indicator can show the value either in BTC or USD.
BTC exchange trade vol / on-chain transaction volThis Bitcoin indicator shows the percentage that the exchange traded volume is from the sum of the exchange traded volume + on-chain transaction volume.
The thin red line is the non-smoothed value calculated from daily volumes.
The thick black line is the 7-day EMA-smoothed value.
The exchange traded volume and the on-chain transaction volume are reported by Quandl and have a 1D resolution - so it is best to use this indicator on the daily time frame.
When the value is high, it shows the the interest of traders is high and they are intensely trading BTC. When the indicator is low, it means that BTC is "dormant": it is used for transfers, but not so much for trading - traders forgot about it for a while - which may be a good time to accumulate if the economy is in a general bull market.
Relative Strength Index on TranquilizersSome weeks ago, I had a patient in my practice who suffered from internal stability disorders.
Certainly not a case of disordered thinking or schizophrenic behaviour, because his general sense of direction wasn’t the problem.
He just couldn’t find the right overall balance, an ailment he struggled with for years.
Straight away I could diagnose that surgery wasn’t an option, so I gave him a medicine he would clearly benefit from.
I never heard from him again…. He must be doing just fine.
Cheers, Indicat...
