[ADDYad] Google Search Trends - Bitcoin (2012 Jan - 2025 Jan)

This Pine Script shows the Google Search Trends as an indicator for Bitcoin from January 2012 to January 2025, based on monthly data retrieved from Google Trends. It calculates and displays the relative search interest for Bitcoin over time, offering a historical perspective on its popularity mainly built for BTCUSD.

Important note: This is not a live indicator. It visualizes historical search trends based on Google Trends data.

Key Features:

• Data Source: Google Trends (Last retrieved in January 10 2025).
  
• Timeframe: The script is designed to be used on a monthly chart, with the data reflecting monthly search trends from January 2012 to January 2025. For other timeframes, the data is linearly interpolated to estimate the trends at finer resolutions.
  
• Purpose: This indicator helps visualize Bitcoin's search interest over the years, offering insights into public interest and sentiment during specific periods (e.g., major price movements or news events).
  
• Data Handling: The data is interpolated for use on non-monthly timeframes, allowing you to view search trends on any chart timeframe. This makes it versatile for use in longer-term analysis or shorter timeframes, despite the raw data being available only on a monthly basis. However, it is most relevant for Monthly, Weekly, and Daily timeframes.
  

How It Works:

• The script calculates the number of months elapsed since January 1, 2012, and uses this to interpolate Google Trends data values for any given point in time on the chart.
  
• The linear interpolation function adjusts the monthly data to provide an approximate trend for intermediate months.
  

Why It's Useful:

• Track Bitcoin's historic search trends to understand how interest in Bitcoin evolved over time, potentially correlating with price movements.
  
• Correlate search trends with price action and other market indicators to analyze the effects of public sentiment and sentiment-driven market momentum.
  

Final Notes:

• This script is unique because it shows real-world, non-financial dataset (Google Trends) to understand price action of Bitcoin correlating with public interest. Hopefully is a valuable addition to the TradingView community.
  

ADDYad