BTC hash rate oscillator

OVERVIEW:
This script looks to identify entry point opportunities when moving averages over Bitcoin's hash rate are indicative of Miner capitulation. The script implements an oscillator based on Charles Capriole's "Hash Ribbons & Bitcoin Bottoms" concept. It analyses the short-term and long-term moving averages of Bitcoin's hash rate and then identifies potential entry opportunities from this.

KEY FEATURES:

• Signal Generation: The script identifies entry points when the short-term moving average crosses under the long-term moving average and the rate of change falls below a specified threshold. These conditions suggest potential trading opportunities.
  
• Historical Signals: Optionally the script displays historical signals, indicating past instances where hash rate conditions suggested favourable entry points. Users can also assess the script's historical performance.
  

USAGE:
The generated opportunities can be used as potential entry points for BTC. The script provides visual cues on the chart (blue labels above the miner capitulation zones) for identification of signals. Customisable moving average lengths and threshold values are supported, which allow adaptation to various strategies.

CONSIDERATIONS:

• Validation: It's recommended that careful backtesting over historical data be done before acting on any identified opportunities.
  
• User Discretion: Trading decisions should not rely solely on this script. Users should exercise their judgment and consider market conditions.
  
• Note: This script identifies opportunities based on historical data and should be used with caution, as past performance is not indicative of future results.