BTC - Metcalfes Law (Deviation)Title: BTC – Metcalfe's Law (Deviation) | RM
Overview & Philosophy
The BTC – Metcalfe's Law (Deviation) is a fundamental valuation oscillator that answers one of the most important questions in network economics: "Is the current price justified by the number of active users?" Metcalfe's Law states that the value of a network is proportional to the square of the number of its connected users (Value = Users squared). In the context of Bitcoin, this means that as the number of active addresses grows linearly, the network's fair value should grow exponentially.This script identifies periods where Bitcoin’s market capitalization has become "overextended" or "undervalued" relative to its actual network activity.
Methodology
The indicator performs a rolling log-log regression (Ordinary Least Squares) between Bitcoin's Market Cap and its Active Address count over a 730-day (2-year) window.
1. The Regression: The script calculates the statistical relationship: ln(Market Cap) = alpha + beta * ln(Active Addresses)
2. Pure Metcalfe vs. Generalized Metcalfe:
• Pure Metcalfe (Beta=2): By default, the script enforces a slope of 2.0, adhering to the classic mathematical law.
• Dynamic Fit: Users can disable the "Enforce Metcalfe" setting to let the model find the best historical fit (often resulting in a Beta between 1.5 and 1.8).
3. The Deviation (The Signal):
The resulting line represents the Log-Deviation from Fair Value.
• A value of 0.0 means Bitcoin is priced exactly according to its network utility.
• Positive values indicate a "valuation premium".
• Negative values indicate a "valuation discount".
How to Read the Chart
🔴 The Red Zone (Overvaluation > 1.0)
Meaning: The Market Cap has outpaced the growth of active users. Historically, these peaks represent speculative bubbles or cycle tops where price is driven by hype rather than utility.
🟢 The Green Zone (Undervaluation < -0.25)
Meaning: The network is being utilized, but the price has crashed below its fundamental support. Historically, these "Utility Floors" have marked the most profitable accumulation zones in Bitcoin’s history.
🟠 The Orange Line (Fair Value Transition)
Meaning: The market is in a healthy growth phase, moving in lockstep with user adoption.
Strategy & Interpretation
This tool is a Macro Compass . It is designed to help investors stay objective during periods of extreme market emotion.
• In a Bull Market: Watch for the deviation to hit the Red Zone. This is your signal that the "Network Utility" can no longer support the price, and a major correction is likely imminent.
• In a Bear Market: Look for the "Green Floor." When the price stays below the -0.25 level despite stable user activity, it suggests a massive mismatch between value and price—a classic buy signal.
Settings
• Regression Window (Default: 730 Days): Chosen to capture mid-to-long term cycle trends. Adjust to shorter timeframes for more dynamic behavior or longer timeframes (like 1460 Days) to catch longer cycles.
• Enforce Metcalfe: Toggle between the classic law (Beta=2) and a dynamic fit.
• Smoothing: A 30-day SMA is applied to active addresses to filter out daily "jitter."
Credits
• Robert Metcalfe: For the original law of network utility.
• Willy Woo & Greg Wheatley: For their pioneering work in applying Metcalfe's Law specifically to Bitcoin's valuation.
Important Data Requirement
To function, this indicator requires a data feed for Active Addresses . By default, it is set to GLASSNODE:BTC_ACTIVEADDRESSES . Please Note: On-chain data usually requires a premium vendor subscription on TradingView (e.g., Glassnode, IntoTheBlock, or CryptoQuant). If you do not have a subscription, the indicator will display a "Missing Data" warning.
⚠️ Note: This indicator is optimized for the Daily (1D) Timeframe. Please switch your chart to 1D for accurate signal reading.
Disclaimer
This script is for research and educational purposes only. It relies on third-party on-chain data. Fundamental valuation is only one piece of the puzzle; market dynamics can remain irrational longer than metrics can predict.
Tags
bitcoin, btc, on-chain, metcalfe, adoption, fundamental, valuation, active addresses, cycle, Rob Maths
Tìm kiếm tập lệnh với "BTC"
BTC Fair Value via Global Liquidity📈 BTC Fair Value via Global Liquidity
This indicator estimates Bitcoin's fair value based on a regression model using Global Liquidity (GLI) data from major central banks.
🔍 How it works:
Fair Value Line (orange): Calculated using a power-law model: Fair Value = e^b * (GLI)^a, where a and b are user-defined parameters based on historical regression.
Global Liquidity (GLI): Combines liquidity metrics from central banks (Fed, ECB, PBoC, BoJ, etc.), including adjustments for the RRP and TGA.
Deviation Bands (green/red dashed): Optional upper and lower bands showing % deviation from fair value (default ±25%). These help identify overbought/oversold conditions.
Delta Plot (gray dots): Displays the % deviation of BTC’s price from its modeled fair value.
⚙️ How to use:
Tune a and b for better model fitting (e.g., via log-log regression).
Use the deviation bands to identify potential entry/exit zones or periods of market inefficiency.
Ideal for macro-level BTC valuation and long-term strategic analysis.
BTC Dominance PercentageThis BTC Dominance Percentage indicator calculates Bitcoin's dominance relative to altcoins, excluding stablecoins.
🔹 Unlike the standard BTC.D metric, which includes all cryptocurrencies (including stablecoins like USDT, USDC, and DAI), this version focuses only on Bitcoin’s market share compared to altcoins.
🔹 It calculates BTC dominance relative to major altcoins (ETH, BNB, ADA, XRP, SOL) and the OTHERS.D index, which represents smaller-cap altcoins.
🔹 Stablecoins are excluded, providing a clearer view of Bitcoin’s actual strength against the altcoin market, without distortion from fiat-pegged assets.
🚀 This is a true BTC dominance metric for tracking Bitcoin’s market position against altcoins!
BTC-SPX Momentum Gauge + EMA SignalHere's an explanation of the market dynamics and signal benefits of this script:
Momentum and Sentiment Indicator:
The script uses the momentum of the S&P 500 to change the chart's background color, providing a quick visual cue of market sentiment. Green indicates potential bullish momentum in the broader market, while red suggests bearish momentum. This can help traders gauge overall market direction at a glance.
Bitcoin Trend Analysis:
By plotting the scaled TEMA of Bitcoin (BTC), traders can see how Bitcoin's trend correlates or diverges from the current asset being analyzed. Since Bitcoin is often viewed as a hedge against traditional financial systems or inflation, its trend can signal broader economic shifts or investor sentiment towards alternative investments.
Dual Trend Confirmation:
The script offers two trend lines: one for Bitcoin and one for the current ticker. When these lines move in tandem, it might indicate a strong market trend across both traditional and crypto markets. Divergence between these lines can highlight potential market anomalies or opportunities for arbitrage or hedging.
Smoothness vs. Reactivity:
The use of TEMA for Bitcoin provides a smoother signal than a simple moving average, reducing lag while still reacting to price changes. This can be particularly useful for identifying longer-term trends in Bitcoin's volatile market. The 20-period EMA for the current ticker, on the other hand, gives a quicker response to price changes in the asset you're directly trading.
Cross-Asset Correlation:
By overlaying Bitcoin's trend on another asset's chart, traders can analyze how these markets might influence each other. For instance, if Bitcoin is in an uptrend while a traditional asset is declining, it might suggest capital rotation into cryptocurrencies.
Trading Signals:
Crossovers or divergences between the TEMA of Bitcoin and the EMA of the current ticker could be used as signals for entry or exit points. For example, if the BTC TEMA crosses above the current ticker's EMA, it might suggest a shift towards crypto assets.
Risk Management:
The visual cues from the background color and moving averages can aid in risk management. For example, trading in the direction of the momentum indicated by the background color might be seen as going with the market flow, potentially reducing risk.
Macro-Economic Insights:
The relationship between Bitcoin and traditional markets can offer insights into macroeconomic conditions, particularly related to inflation, monetary policy, and investor sentiment towards fiat currencies.
Headwind and tailwind:
Currently BTC correlated trade instruments experience headwind or tailwind from the broader market. This indicator lets the user see it to help their trade decision process.
Additional Statement:
As the market realizes the dangers of the fiat that its construct is built upon and evolves and migrates into stable money, incorruptible by inflation, this indicator will reveal the external influence of that corruptible and the internal influence of the incorruptible; having diminishing returns as the rise of stable money overtakes the treasuries of the fiat construct.
BTC CME Futures Divergence TrackerThis script tracks divergences between price action and open interest for the BTC CME Futures contract (symbol "BTC1!") using the following components:
Key Features:
1. Price Analysis: Identifies lower highs in the price over a specified lookback period. Marks these points with red upward-facing triangles above the bars.
2. Open Interest Analysis: Retrieves open interest (OI) data for the BTC CME Futures contract via request.security. Detects lower highs in open interest over the same lookback period. Highlights these points with blue downward-facing triangles below the bars.
3. Divergence Detection: A divergence is identified when both price and open interest form lower highs simultaneously. Highlights such occurrences with a purple background, indicating potential bearish sentiment or weakening momentum.
4. Alerts: If divergences are detected, an alert is triggered (if enabled), notifying the trader to take action.
5. Visualization: Open interest is plotted as a blue line in a separate pane for added context. Red and blue markers highlight significant points in price and open interest trends.
Use Cases:
- Spot Weakening Trends: Divergences between price and open interest may indicate a loss of momentum or bearish sentiment, allowing traders to preemptively adjust their strategies.
- Monitor Institutional Activity: Open interest changes reflect shifts in market participation, especially in derivative markets like CME Futures.
- Set Alerts for Key Signals: With automated alerts, traders can stay informed of potential divergence signals without constant monitoring.
Customization Options:
- Lookback Period: Adjust the number of bars used to detect lower highs.
- Timeframe: Choose the timeframe for fetching open interest data (e.g., daily, hourly).
- Alert Activation: Enable or disable alerts for divergences.
This tool combines price action with open interest dynamics to provide a robust method for identifying market trends and potential reversals in BTC CME Futures.
BTC Log High/Low ChartThis indicator calculates the logarithmic values of the high and low prices of BTC based on a mathematical formula and plots them on the chart. The code uses the current time and width of the chart to calculate the logarithmic values of the high and low prices. It defines functions to convert a timestamp to the number of days since January 1st, 2009.
You can use it with BTC Log High/Low:
BTC Longs/Shorts ratio by [VanHelsing]BTC Longs/Shorts ratio
It is a sentiment indicator. It uses data from Bitfinex longs chart and shorts chart.
When ratio line going up it simply means most of the people from Bitfinex buying BTC when it goes down selling.
So in this way we know bull and bear presure
But it is only one exchange? Yes, but it is enough accurate for BTC, for ETH it is not so good.
How it works:
With request security function was called the closes of longs and shorts charts
and then with simple calculation was extracted a ratio of it and rescaled to make it easy to read.
When ratio line moves up it gradualy changing background from -1 to 1 from red to green and vice versa to understad what is a trend or a majore sentiment of people
After ratio was ploted, I created a smoothed ratio line with sma to extract signals from it buy and sell in a form of green and red circles.
How to read it:
BTC Hash Rate & Price Stochastic IndiciatorFresh off the press, we have a new breed of indicators: Bitcoin's Hash Rate & Price.
As many of you have read, roughly 80% of BTC's price movements can be correlated to its changes in hash rate volume. I decided to make a stochastic indicator that utilizes this principle to track divergence of the price from the hash rate.
Let's break this down...
In red is the CLOSE of BTC's Price, which is then smoothed by a SMA, and smoothed again by a WMA.
In aqua is a STOCH of BTC's Hash Rate, which is then smoothed by a SMA, and smoothed again by a WMA.
The reason why I chose to use the CLOSE of the Price versus a STOCH as I did with the Hash Rate, is because the price tends to signal trends via divergence from the Hash Rate, and eventually converge with the Hash Rate at some point.
You will notice that anytime there is a significant divergence of the RED from the AQUA, a trend is closely aligned with it. This indicator does a remarkable job of indicating the beginnings and ends of both bullish and bearish price movements.
Example Strategy:
Enter long when RED (price) crosses over AQUA (hash rate), and close long when RED crosses under AQUA.
The inverse can be done for shorts, just RED diverges downwards from AQUA versus upwards.
Note:
Unlike a normal Stochastic Indicator, the upper and lower bounds do not appear to hold any significance. In other words, the lines do not seem to reverse at 20/80. As a result, I just set them to 0/100 for aesthetics.
DO NOT make trades based off of small divergences, or simply enter into positions based off the price divergences. Though this indicator times the start/end of movements very accurately, it also comes riddled with false breakouts .
Proceed at your own pace, and please, toy around with the inputs values. I experimented with a few combinations, but I'm sure there are better value combinations that yield sharper results with fewer false signals.
EASTER EGG:
Notice the "Golden Line"? Any avid user of TV knows that Fibonacci ratios show up everywhere in markets. With that said, I plotted a horizontal line at 0.618, which is 1/Phi, an important level in Fibonacci retracements.
Final Comments:
First, this is not investment, merely my experimentation and observation of happenings in the analytical world.
Second, please comment questions, improvements, etc. Dialogue opens up room for exploration!
BTC FRACTAL ANN S-R LEVELS (Fixed ANN MACD)
This script is an adaptation of my deep learning system for Bitcoin to fractals.
Fractal codes are not belong to me. Original :
The code for the Deep learning (ANN MACD BTC) work belongs to me. Original:
I didn't get license for this script because the fractal codes don't belong to me.You can use it for any purpose.
This command can be a very helpful guide.You can use that fractals with your indicators for Bitcoin.
You can also combine these levels with ANN - MACD - BTC script.
Scripts about Artificial Neural Networks (ANN) will continue soon !
I hope it will help us to gain insight into technical analysis.
Best regards. Noldo.
BTC Real PriceThis creates an INDICATOR showing REAL BTC price across 9 exchanges.
the composite price is equal weighted (and continuously updates, so its always correctly weighted) and shows the "BTC Real Price"
the default setting is to "M" for monthly ofc, so change it as needed under settings.
Since this is an INDICATOR, you would apply it to your own btc chart (whether you are watching binance, bitmex, etc) and you can see any price discrepancies between the 2.
you can also merge it onto the main chart as well
BTC - RHODL (Proxy Flow) b]Title: BTC - RHODL Ratio (Proxy Flow Edition) | RM
Overview & Philosophy
The RHODL Ratio is one of the most respected macro-on-chain metrics in the Bitcoin industry. Originally developed by Philip Swift, it identifies cycle tops by looking at the velocity of money moving between long-term HODLers and new speculators.
Why a "Proxy" instead of the "Original"? The original RHODL Ratio relies on Realized Value HODL Waves—where coins are weighted by the price at which they last moved. On TradingView, these specific "Realized" age-bands are often locked behind high-tier professional vendor subscriptions (e.g., Glassnode Pro), making the original indicator inaccessible to most retail investors.
To solve this, I present this Proxy Flow Edition. Instead of weighting by cost-basis, it utilizes more accessible Supply-Age data to simulate the "Speculative Fever" of a bull market. By mathematically isolating the "Flow" between young and old cohorts, we achieve a signal that captures ~95% of the original's historical accuracy while remaining fully functional for the broader community.
Methodology: The Proxy Flow Framework
Most indicators look at price; the RHODL Proxy looks at behavioral shift .
1. The Young vs. Old Battle:
The script tracks the percentage of supply held for at least one year ( Active 1Y+ ). It then derives the "Flow" of coins:
• Young Flow: Measures coins entering the <1-year cohort (speculative interest).
• Old Flow: Measures the baseline of coins remaining in the 1-year+ cohort (HODLer conviction).
2. The Ratio of Distribution:
When the Young Flow exponentially outpaces the Old Flow , it signifies that long-term holders are distributing their coins to a flood of new retail entrants. Historically, this "transfer of wealth" from smart money to retail marks the terminal phase of a bull cycle.
3. Age Normalization:
Bitcoin’s network naturally matures over time. This script includes an Age Normalization Divisor that adjusts the ratio based on Bitcoin's days since genesis, accounting for the secular growth in lost coins and deep-cold storage.
How to Read the Chart
🟧 The RHODL Proxy (Orange Line): A logarithmic representation of the flow ratio. A rising line indicates increasing speculative velocity; a falling line indicates HODLer re-accumulation.
🔴 The Overheated Zone (> 0.5): The danger zone. This area captures the "Speculative Fever" typical of cycle peaks. When the line sustains here, the market is historically overextended and vulnerable to a massive deleveraging event.
🟢 The Accumulation Zone (< -0.5): The maximum opportunity zone. This occurs when the market is "dead"—speculators have left, and only the most patient HODLers remain. Historically, these green valleys represent the most asymmetric entry points in Bitcoin's history.
Status Dashboard
The real-time monitor in the bottom-right identifies the current market regime:
• RHODL Score: The raw logarithmic intensity of current supply rotation.
• Regime: ACCUMULATION (Smart Money), NEUTRAL (Trend), or OVERHEATED (Retail Mania).
Credits
Philip Swift: For the original inspiration and the groundbreaking Realized HODL Ratio concept.
⚠️ Note: This indicator is mathematically optimized for the Daily (1D) Timeframe to maintain the integrity of supply-flow calculations.
Disclaimer
This script is for research and educational purposes only. On-chain metrics are probabilistic, not deterministic. Always manage your risk according to your investment horizon.
Tags
bitcoin, btc, rhodl, on-chain, hodl, cycles, speculation, rotation, macro, Rob Maths
BTC - AXIS: Coppock + Williams %R CompositeTitle: BTC - AXIS: Coppock + Williams %R Composite | RM
Overview & Philosophy
AXIS (Advanced X-Momentum Intensity Score) is a specialized momentum composite designed to identify market structural shifts. In physics, an axis is the central line around which a body rotates; in this indicator, the Zero-Baseline acts as the AXIS for capital flow.
By fusing a slow-moving momentum engine ( Coppock Curve ) with a high-sensitivity tactical oscillator ( Williams %R ), this tool filters out the "market noise" that leads to overtrading and focuses on the high-conviction "Trend-Aligned Dips."
Methodology
Most indicators either suffer from too much lag (Moving Averages) or too much noise (Standard RSI). AXIS solves this through "Speed-Balanced Normalization."
1. Macro Engine (Coppock Curve): Named after Edwin Coppock, this component identifies major market bottoms by smoothing two separate Rates of Change (RoC). It is your structural compass.
2. Tactical Trigger (Williams %R): Created by Larry Williams, this measures the current close relative to the High-Low range.
• Re-centered Logic: Standard Williams %R oscillates between 0 and -100. Here, this is re-centered to oscillate around zero, ensuring it interacts mathematically correctly with the Coppock baseline.
3. The AXIS Score: The Composite line (Orange) is the weighted sum of these two engines. It provides a singular view of the market's "Net Momentum Intensity."
How to Read the Chart
🟧 The AXIS Composite (Orange Line): The primary signal line. It tracks the speed and exhaustion of the price by fusing macro and tactical data.
• Red Zone (> 150): Overheated. Short and long-term momentum are at extreme highs. Risk of a blow-off top or local reversal is high.
• Green Zone (< -150): Capitulation. The market is statistically exhausted. Historically, these zones represent high-conviction accumulation areas.
• Bullish Momentum (> 0): The market is rotating above the central Axis. Buyers are in control of the trend.
• Bearish Momentum (< 0): The market is rotating below the central Axis. Sellers are in control of the trend.
🟦 The Coppock Line (Blue): The macro filter. When Blue is above 0, the long-term trend is up.
🟥 The Williams %R Line (Red): The short-term cycles. Watch for divergences here to spot early trend fatigue.
Strategy: The "AXIS Alignment" Signal
The highest-conviction entry point—and the primary "Alpha" of this tool—occurs when:
The macro trend is Bullish ( Blue Line > 0 ).
The market experiences a correction, pushing the Orange (AXIS) Line into the Green Capitulation Zone.
The AXIS Score turns back upward.
This indicates that a short-term panic has been absorbed by a long-term bull trend—the ideal "Buy the Dip" scenario.
Settings
• Long/Short RoC: Standardized to 14/11 for cycle accuracy.
• Weighting: Allows you to prioritize trend (Coppock) or cycle sensitivity (%R).
• Visibility Toggles: Fully customizable display switches for each line.
Credits
• Edwin Coppock: For the foundation of long-term recovery momentum.
• Larry Williams: For the Percent Range methodology.
⚠️ Note: This indicator is optimized for the Daily (1D) Timeframe. Please switch your chart to 1D for accurate signal reading.
Disclaimer
This script is for research and educational purposes only. Past performance does not guarantee future results.
Tags
bitcoin, btc, axis, momentum, oscillator, coppock, williams r, on-chain, valuation, cycle, Rob Maths
BTC - VDD Multiple (Approx)Overview & Philosophy
⚠️ Note: This indicator is optimized for the Daily (1D) Timeframe. Please switch your chart to 1D for accurate signal reading.
The BTC – VDD Multiple (Approx) is an advanced oscillator designed to identify market overheating and cycle tops by analyzing the velocity of value moving through the market.
In traditional On-Chain Analysis, Value Days Destroyed (VDD) is a premier metric for spotting macro tops. It multiplies the coin age (how long a coin was held) by the price at which it was moved. When old coins (HODLer money) move at high prices, VDD spikes, signaling massive profit-taking.
The Problem: Real "Coin Days Destroyed" (CDD) data is typically locked behind institutional paywalls or unavailable on standard TradingView plans.
The Solution: This script calculates a Deterministic Proxy. By analyzing the relationship between Exchange Volume, Price, and a Dormancy Constant, we can approximate the structure of the VDD Multiple without needing a premium data feed.
Methodology
The VDD Multiple works by comparing short-term market velocity against a long-term baseline.
1. The Proxy Calculation
Since we cannot directly access the age of coins on TradingView, we model the economic weight of the move:
Proxy Value = Exchange Volume * Price * Dormancy Factor
This creates a synthetic representation of "Value Throughput."
2. The Multiple
We compare the immediate heat of the market against the yearly trend:
• Short-Term MA (2 Days): Captures flash spikes and sudden liquidity exit events.
• Long-Term MA (365 Days): Represents the baseline "hum" of network activity.
VDD Multiple = Short Term MA / Long Term MA
How to Read the Chart
The indicator plots the Multiple as a line and uses background highlighting to signal extreme regimes.
🔴 The Red Zone (Overheated > 2.9)
Meaning: Current value transfer is ~3x higher than the yearly average.
Interpretation: Historically, sharp spikes into the Red Zone correlate with Local or Cycle Tops. This indicates that massive volume is changing hands at high prices—typically a sign of "Smart Money" distributing into "Dumb Money" FOMO.
Note: In strong bull runs, price can push higher even after a VDD spike, but the risk/reward ratio is extremely poor here.
🟢 The Green Zone (Undervalued < 0.75)
Meaning: Market activity is quiet and below the yearly baseline.
Interpretation: These are periods of apathy or accumulation. Historically, extended time spent in the Green Zone (the "flatline") has offered the best asymmetric buying opportunities.
🟠 The Orange Line (Neutral)
Meaning: The market is in transition or equilibrium.
Strategy & Context
This indicator is best used as a Macro Cycle Tool, not a day-trading signal.
• Exit Strategy: Look for "Clusters" of Red Spikes. A single spike often marks a local correction, but a cluster of intense spikes while price makes new highs (Divergence) is a strong Cycle Top warning.
• Entry Strategy: Historically the best entries occur when the indicator flattens out in the Green Zone for weeks or months. This suggests sellers are exhausted and the market has reached a floor.
Credits
This script is an approximation of the original VDD Multiple concept. Full credit for the underlying on-chain theory goes to the pioneers of this metric:
• Concept: The original Value Days Destroyed metric was popularized by Hans Hauge and Glassnode.
• The Multiple: The specific application of a Short/Long MA Multiple on VDD is widely attributed to analysts like TXMC and Bitbo.
This script adapts these concepts for the free TradingView environment using exchange volume proxies.
Settings
• Data Source: Defaults to BINANCE:BTCUSDT to capture high-volume liquidity.
• Short MA: Default is 2 Days to capture rapid velocity spikes.
• Long MA: Default is 365 Days to track the annual trend.
Disclaimer
This tool is an approximation based on exchange volume, not raw blockchain data. While exchange volume and on-chain volume are highly correlated during cycle extremes, they are not identical. This script is for educational and research purposes only. Past performance does not guarantee future results.
Tags
bitcoin, btc, onchain, vdd, cdd, valuation, cycle, top, bottom, Rob Maths
BTC - FRIC: Friction & Realized Intensity CompositeTitle: BTC - FRIC: Friction & Realized Intensity Composite
Data: IntoTheBlock
Overview & Philosophy
FRIC (Friction & Realized Intensity Composite) is a specialized on-chain oscillator designed to visualize the "psychological battlegrounds" of the Bitcoin network.
Most indicators focus on Price or Momentum. FRIC focuses on Cost Basis. It operates on the thesis that the market experiences maximum "Friction" when the price revisits the cost basis of a large number of holders. These are the zones where investors are emotionally triggered to react—either to exit "at breakeven" after a loss (creating resistance) or to defend their entry (creating support).
This indicator answers two questions simultaneously:
Intensity: Is the market hitting a Wall (High Friction) or a Vacuum (Low Friction)?
Valuation: Is this happening at a market bottom or a top?
The "Alpha" (Wall vs. Vacuum)
Why we visualize both extremes: This indicator filters out the "Noise" (the middle range) to show you only the statistically significant anomalies.
1. The "Wall" (Positive Z-Score Bars)
What it is : A statistically high number of addresses are at breakeven.
The Implication : Expect a grind. Price action often slows down or reverses here because "Bag Holders" are selling into strength to get out flat, or new buyers are establishing a floor.
2. The "Vacuum" (Negative Z-Score Bars)
What it is : A statistically low number of addresses are at breakeven.
The Implication : Expect acceleration. The price is moving through a zone where very few people have a cost basis. With no natural "breakeven supply" to block the path, price often enters Price Discovery or Free Fall.
Methodology
The indicator constructs a composite view using two premium metrics from IntoTheBlock:
1. The "Activity" (Friction Z-Score): We utilize the Breakeven Addresses Percentage. This measures the % of all addresses where the current price equals the average cost basis.
- Normalization: We apply a rolling Z-Score (Standard Deviation) to this data.
- The Filter: We hide the "Noise" (e.g., Z-Scores between -2.0 and +2.0) to isolate only the events where market structure is truly stretched.
2. The "Context" (Valuation Heatmap): We utilize the MVRV Ratio to color-code the friction.
Deep Value (< 1.0): Price is below the average "Fair Value" of the network.
Overheated (> 3.0): Price is significantly extended above the "Fair Value."
Credit: The MVRV Ratio was originally conceptualized by Murad Mahmudov and David Puell. It remains one of the gold standards for detecting Bitcoin's fair value deviations.
How to Read the Indicator
The chart is visualized as a Noise-Filtered Heatmap.
1. The Bars (Intensity)
Bars Above Zero: High Friction (Congestion). The market is fighting through a supply wall.
Bars Below Zero: Low Friction (Vacuum). The market is accelerating through thin air.
Gray/Ghosted: Noise. Routine market activity; no significant signal.
2. The Colors (Valuation Context) The color tells you why the friction is happening:
🟦 Deep Blue (The "Capitulation Buy"):
Signal: High Friction + Low MVRV.
Meaning : Investors are panic-selling at breakeven/loss, but the asset is fundamentally undervalued. Historically, these are high-conviction cycle bottoms.
🟥 Dark Red (The "FOMO Sell"):
Signal: High Friction + High MVRV.
Meaning : Investors are churning at high valuations. Smart money is often distributing to late retail arrivers. Historically marks cycle tops.
🟨 Yellow/Orange (The "Trend Battle"):
Signal: High Friction + Neutral MVRV.
Meaning : The market is contesting a level within a trend (e.g., a mid-cycle correction).
Visual Guide & Features
10-Zone Heatmap: A granular color gradient that shifts from Dark Blue (Deep Value) → Sky Blue → Grey (Neutral) → Orange → Dark Red (Top).
Noise Filter
A unique feature that "ghosts out" insignificant data, leaving only the statistically relevant signals visible.
Data Check Monitor
A diagnostic table in the bottom-right corner that confirms the live connection to IntoTheBlock data streams and displays the current regime in real-time.
Settings
Lookback Period (Default: 90): The rolling window used for the Z-Score calculation. Shortening this (e.g., to 30) makes the indicator more sensitive to local volatility; lengthening it (e.g., to 365) aligns it with macro cycles.
Noise Threshold (Default: 2.0): The strictness of the filter. Only friction events exceeding this Z-Score will be highlighted in full color.
Show Status Table : Toggles the on-screen dashboard.
Disclaimer
This script is for research and educational purposes only. It relies on third-party on-chain data which may be subject to latency or revision. Past performance of on-chain metrics does not guarantee future price action.
Tags
bitcoin, btc, on-chain, mvrv, intotheblock, friction, z-score, fundamental, valuation, cycle
BTC Price Prediction Model [Global PMI]V2🇺🇸 English Guide
1. Introduction
This indicator was created by GW Capital using Gemini Vibe Coding technology. It leverages advanced AI coding capabilities to reconstruct complex macroeconomic models into actionable trading tools.
2. Credits
Special thanks to the original model author, Marty Kendall. His research into the correlation between Bitcoin's price and macroeconomic factors lays the foundation for this algorithm.
3. Model Principles & Formula
This model calculates the "Fair Value" of Bitcoin based on four key macroeconomic pillars. It assumes that Bitcoin's price is a function of Global Liquidity, Network Security, Risk Appetite, and the Economic Cycle.
💡 Unique Insight: PMI & The 4-Year Cycle
A key distinguishing feature of this model is the hypothesis that Bitcoin's famous "4-Year Halving Cycle" may be intrinsically linked to the Global Business Cycle (PMI), rather than just supply shocks.
Therefore, the model incorporates PMI as a valuation "Amplifier".
Note: Due to TradingView data limitations, US PMI is currently used as the proxy for the global cycle.
The Formula
$$\ln(BTC) = \alpha + (1 + \beta \cdot PMI_{z}) \times $$
Global Liquidity (M2): Sum of M2 supply from US, China, Eurozone, and Japan (converted to USD). Represents the pool of fiat money available to flow into assets.
Network Security (Hashrate): Bitcoin's hashrate, representing the physical security and utility of the network.
Risk Appetite (S&P 500): Used as a proxy for global risk sentiment.
Economic Cycle (PMI Z-Score): US Manufacturing PMI is used to amplify or dampen the valuation based on where we are in the business cycle (Expansion vs. Contraction).
4. How to Use
The indicator plots the Fair Value (White Line) and four sentiment bands based on statistical deviation (Z-Score).
Sentiment Zones
🚨 Extreme Greed (Red Zone): Price > +0.3 StdDev. Historically indicates a market top or overheated sentiment.
⚠️ Greed (Orange Zone): Price > +0.15 StdDev. Bullish momentum is strong but caution is advised.
⚖️ Fair Value (White Line): The theoretical "correct" price based on macro data.
😨 Fear (Teal Zone): Price < -0.15 StdDev. Undervalued territory.
💎 Extreme Fear (Green Zone): Price < -0.3 StdDev. Historically a generational buying opportunity.
Sentiment Score (0-100)
100: Maximum Greed (Top)
50: Fair Value
0: Maximum Fear (Bottom)
5. Usage Recommendations
Timeframe: Daily (1D) or Weekly (1W) ONLY.
Reason: The underlying data sources (M2, PMI) are updated monthly. The S&P 500 and Hashrate are daily. Using this indicator on intraday charts (e.g., 15m, 1h, 4h) adds no value because the fundamental data does not change that fast.
Long-Term View: This is a macro-cycle indicator designed for identifying cycle tops and bottoms over months and years, not for day trading.
6. Disclaimer
This indicator is for educational and informational purposes only. It does not constitute financial advice. The model relies on historical correlations which may not hold true in the future. All trading involves risk. GW Capital and the creators assume no responsibility for any trading losses.
7. Support Us ❤️
If you find this indicator useful, please Boost 👍, Comment, and add it to your Favorites! Your support keeps us going.
🇨🇳 中文说明 (Chinese Version)
1. 简介
本指标由 GW Capital 使用 Gemini Vibe Coding 技术制作。利用先进的 AI 编程能力，将复杂的宏观经济模型重构为可执行的交易工具。
2. 致谢
特别感谢模型原作者 Marty Kendall。他对这一算法的研究奠定了基础，揭示了比特币价格与宏观经济因素之间的深层联系。
3. 模型原理与公式
该模型基于四大宏观经济支柱计算比特币的“公允价值”。它假设比特币的价格是全球流动性、网络安全性、风险偏好和经济周期的函数。
💡 独家洞察：PMI 与 4年周期
本模型的一个核心独特之处在于：我们认为比特币著名的“4年减半周期”背后的真正驱动力，可能与全球商业周期 (PMI) 高度同步，而不仅仅是供应减半。
因此，模型特别引入 PMI 作为估值的“放大器” (Amplifier)。
注：由于 TradingView 数据源限制，目前采用历史数据最详尽的美国 PMI 作为全球周期的代理指标。
模型公式
$$\ln(BTC) = \alpha + (1 + \beta \cdot PMI_{z}) \times $$
全球流动性 (M2): 美、中、欧、日四大经济体的 M2 总量（折算为美元）。代表可流入资产的法币资金池。
网络安全性 (Hashrate): 比特币全网算力，代表网络的物理安全性和实用价值。
风险偏好 (S&P 500): 作为全球风险情绪的代理指标。
经济周期 (PMI Z-Score): 美国制造业 PMI 用于根据商业周期（扩张 vs 收缩）来放大或抑制估值。
4. 指标用法
指标会在图表上绘制 公允价值 (白线) 以及基于统计偏差 (Z-Score) 的四条情绪带。
情绪区间
🚨 极度贪婪 (红色区域): 价格 > +0.3 标准差。历史上通常预示市场顶部或情绪过热。
⚠️ 一般贪婪 (橙色区域): 价格 > +0.15 标准差。多头动能强劲，但需谨慎。
⚖️ 公允价值 (白线): 基于宏观数据的理论“正确”价格。
😨 一般恐惧 (青色区域): 价格 < -0.15 标准差。进入低估区域。
💎 极度恐惧 (绿色区域): 价格 < -0.3 标准差。历史上通常是代际级别的买入机会。
情绪评分 (0-100)
100: 极度贪婪 (顶部)
50: 公允价值
0: 极度恐惧 (底部)
5. 使用建议
周期: 仅限日线 (1D) 或周线 (1W)。
原因: 底层数据源（M2, PMI）是月度更新的。标普500和算力是日度更新的。在日内图表（如15分钟、1小时、4小时）上使用此指标没有任何意义，因为基本面数据不会变化得那么快。
长期视角: 这是一个宏观周期指标，旨在识别数月甚至数年的周期顶部和底部，而非用于日内交易。
6. 免责声明
本指标仅供教育和参考使用，不构成任何财务建议。该模型依赖于历史相关性，未来可能不再适用。所有交易均涉及风险。GW Capital 及制作者不对任何交易损失承担责任。
BTC Price Prediction Model [Global PMI]🇨🇳 中文说明 (Chinese Version)
1. 简介
本指标由 GW Capital 使用 Gemini Vibe Coding 技术制作。利用先进的 AI 编程能力，将复杂的宏观经济模型重构为可执行的交易工具。
2. 致谢
特别感谢模型原作者 Marty Kendall。他对这一算法的研究奠定了基础，揭示了比特币价格与宏观经济因素之间的深层联系。
3. 模型原理与公式
该模型基于四大宏观经济支柱计算比特币的“公允价值”。它假设比特币的价格是全球流动性、网络安全性、风险偏好和经济周期的函数。
模型公式
$$\ln(BTC) = \alpha + (1 + \beta \cdot PMI_{z}) \times $$
全球流动性 (M2): 美、中、欧、日四大经济体的 M2 总量（折算为美元）。代表可流入资产的法币资金池。
网络安全性 (Hashrate): 比特币全网算力，代表网络的物理安全性和实用价值。
风险偏好 (S&P 500): 作为全球风险情绪的代理指标。
经济周期 (PMI Z-Score): 美国制造业 PMI 用于根据商业周期（扩张 vs 收缩）来放大或抑制估值。
4. 指标用法
指标会在图表上绘制 公允价值 (白线) 以及基于统计偏差 (Z-Score) 的四条情绪带。
情绪区间
🚨 极度贪婪 (红色区域): 价格 > +0.3 标准差。历史上通常预示市场顶部或情绪过热。
⚠️ 一般贪婪 (橙色区域): 价格 > +0.15 标准差。多头动能强劲，但需谨慎。
⚖️ 公允价值 (白线): 基于宏观数据的理论“正确”价格。
😨 一般恐惧 (青色区域): 价格 < -0.15 标准差。进入低估区域。
💎 极度恐惧 (绿色区域): 价格 < -0.3 标准差。历史上通常是代际级别的买入机会。
情绪评分 (0-100)
100: 极度贪婪 (顶部)
50: 公允价值
0: 极度恐惧 (底部)
5. 使用建议
周期: 仅限日线 (1D) 或周线 (1W)。
原因: 底层数据源（M2, PMI）是月度更新的。标普500和算力是日度更新的。在日内图表（如15分钟、1小时、4小时）上使用此指标没有任何意义，因为基本面数据不会变化得那么快。
长期视角: 这是一个宏观周期指标，旨在识别数月甚至数年的周期顶部和底部，而非用于日内交易。
6. 免责声明
本指标仅供教育和参考使用，不构成任何财务建议。该模型依赖于历史相关性，未来可能不再适用。所有交易均涉及风险。GW Capital 及制作者不对任何交易损失承担责任。
🇺🇸 English Guide (英文说明)
1. Introduction
This indicator was created by GW Capital using Gemini Vibe Coding technology. It leverages advanced AI coding capabilities to reconstruct complex macroeconomic models into actionable trading tools.
2. Credits
Special thanks to the original model author, Marty Kendall. His research into the correlation between Bitcoin's price and macroeconomic factors lays the foundation for this algorithm.
3. Model Principles & Formula
This model calculates the "Fair Value" of Bitcoin based on four key macroeconomic pillars. It assumes that Bitcoin's price is a function of Global Liquidity, Network Security, Risk Appetite, and the Economic Cycle.
The Formula
$$\ln(BTC) = \alpha + (1 + \beta \cdot PMI_{z}) \times $$
Global Liquidity (M2): Sum of M2 supply from US, China, Eurozone, and Japan (converted to USD). Represents the pool of fiat money available to flow into assets.
Network Security (Hashrate): Bitcoin's hashrate, representing the physical security and utility of the network.
Risk Appetite (S&P 500): Used as a proxy for global risk sentiment.
Economic Cycle (PMI Z-Score): US Manufacturing PMI is used to amplify or dampen the valuation based on where we are in the business cycle (Expansion vs. Contraction).
4. How to Use
The indicator plots the Fair Value (White Line) and four sentiment bands based on statistical deviation (Z-Score).
Sentiment Zones
🚨 Extreme Greed (Red Zone): Price > +0.3 StdDev. Historically indicates a market top or overheated sentiment.
⚠️ Greed (Orange Zone): Price > +0.15 StdDev. Bullish momentum is strong but caution is advised.
⚖️ Fair Value (White Line): The theoretical "correct" price based on macro data.
😨 Fear (Teal Zone): Price < -0.15 StdDev. Undervalued territory.
💎 Extreme Fear (Green Zone): Price < -0.3 StdDev. Historically a generational buying opportunity.
Sentiment Score (0-100)
100: Maximum Greed (Top)
50: Fair Value
0: Maximum Fear (Bottom)
5. Usage Recommendations
Timeframe: Daily (1D) or Weekly (1W) ONLY.
Reason: The underlying data sources (M2, PMI) are updated monthly. The S&P 500 and Hashrate are daily. Using this indicator on intraday charts (e.g., 15m, 1h, 4h) adds no value because the fundamental data does not change that fast.
Long-Term View: This is a macro-cycle indicator designed for identifying cycle tops and bottoms over months and years, not for day trading.
6. Disclaimer
This indicator is for educational and informational purposes only. It does not constitute financial advice. The model relies on historical correlations which may not hold true in the future. All trading involves risk. GW Capital and the creators assume no responsibility for any trading losses.
BTC Marty IndicatorsThis custom Pine Script indicator is designed specifically for Bitcoin (BTC) trading analysis on TradingView. It combines multiple technical tools into a single, easy-to-use overlay indicator to help traders identify trends, momentum shifts, and overall market sentiment. Ideal for swing traders, long-term holders, or anyone monitoring BTC's price action across various timeframes.
Key Features:
Timeframe-Independent SMAs (110 and 350d)
MACD Histogram Signals
BTC CME Gaps Detector [SwissAlgo]BTC CME Gaps Detector
Track Unfilled Gaps & Identify Price Magnets
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Overview
The BTC CME Gap Detector identifies and tracks unfilled price gaps on any timeframe (1-minute recommended for scalping) to gauge potential trading bias.
Verify Gap Behavior Yourself : Use TradingView's Replay Mode on the 1-Minute chart to observe how the price interacts with gaps. Load the BTC1! ticker (Bitcoin CME Futures), enable Replay Mode, and play forward through time (for example: go back 15 days). You may observe patterns such as price frequently returning to fill gaps, nearest gaps acting as near-term targets, and gaps serving as potential support/resistance zones. Some gaps may fill quickly, while others may remain open for longer periods. This hands-on analysis lets you independently assess how gaps may influence price movement in real market conditions and whether you may use this indicator as a complement to your trading analysis.
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Purpose
Price gaps occur when there is a discontinuity between consecutive candles - when the current candle's low is above the previous candle's high (gap up), or when the current candle's high is below the previous candle's low (gap down).
This indicator identifies and tracks these gaps on any timeframe to help traders:
Identify gap zones that may attract price (potential "price magnets")
Monitor gap fill progression
Assess potential directional bias based on nearest unfilled gaps (long, short)
Analyze market structure and liquidity imbalances
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Why Use This Indicator?
Universal Gap Detection : Identifies all gaps on any timeframe (1-minute, hourly, daily, etc.)
Multi-Candle Mitigation Tracking : Detects gap fills that occur across multiple candles
Distance Analysis : Shows percentage distance to nearest bullish and bearish gaps
Visual Representation : Color-coded boxes indicate gap status (active vs. mitigated)
Age Filtering : Option to display only gaps within specified time periods (3/6/12/24 months), as older gaps may lose relevance
ATR-Based Sizing : Minimum gap size adjusts to instrument volatility to filter noise (i.e. small gaps)
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Trading Concept
Gaps represent price zones where no trading occurred. Historical market behavior suggests that unfilled gaps may attract price action as markets tend to revisit areas of incomplete price discovery. This phenomenon creates potential trading opportunities:
Bullish gaps (above current price) may act as upside targets where the price could move to fill the gap
Bearish gaps (below current price) may act as downside targets where price could move to fill the gap
The nearest gap often provides directional bias, as closer gaps may have a higher probability of being filled in the near term
This indicator helps quantify gap proximity and provides a visual reference for these potential target zones.
EXAMPLE
Step 1: Bearish Gaps Appear Below Price
Step 2: Price Getting Close to Fill Gap
Step 3: Gap Mitigated Gap
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Recommended Setup
Timeframe: 1-minute chart recommended for maximum gap detection frequency. Works on all timeframes (higher timeframes will show fewer, larger gaps).
Symbol: Any tradable instrument. Originally designed for BTC1! (CME Bitcoin Futures) but compatible with all symbols.
Settings:
ATR Length: 14 (default)
Min Gap Size: 0.5x ATR (adjust based on timeframe and noise level)
Gap Age Limit: 3 months (configurable)
Max Historical Gaps: 300 (adjustable 1-500)
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How It Works
Gap Detection : Identifies price discontinuities on every candle where:
Gap up: current candle low > previous candle high
Gap down: current candle high < previous candle low
Minimum gap size filter (ATR-based) eliminates insignificant gaps
Mitigation Tracking : Monitors when price touches both gap boundaries. A gap is marked as filled when the price has touched both the top and bottom of the gap zone, even if this occurs across multiple candles.
Visual Elements :
Green boxes: Unfilled gaps above current price (potential bullish targets)
Red boxes: Unfilled gaps below current price (potential bearish targets)
Gray boxes: Filled gaps (historical reference)
Labels: Display gap type, price level, and distance percentage
Analysis Table: Shows :
Distance % to nearest bullish gap (above price)
Distance % to nearest bearish gap (below price)
Trade bias (LONG if nearest gap is above, SHORT if nearest gap is below)
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Key Features
Detects gaps on any timeframe (1m, 5m, 1h, 1D, etc.)
Boxes extend 500 bars forward for active gaps, stop at the fill bar for mitigated gaps
Real-time distance calculations update on every candle
Configurable age filter removes outdated gaps
ATR multiplier ensures gap detection adapts to market volatility and timeframe
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Disclaimer
This indicator is provided for informational and educational purposes only.
It does not constitute financial advice, investment recommendations, or trading signals. The concept that gaps attract price is based on historical observation and does not guarantee future results.
Gap fills are not certain - gaps may remain unfilled indefinitely, or the price may reverse before reaching a gap. This indicator should not be used as the sole basis for trading decisions.
All trading involves substantial risk, including the potential loss of principal. Users should conduct their own research, apply proper risk management, test strategies thoroughly, and consult with qualified financial professionals before making trading decisions.
The authors and publishers are not responsible for any losses incurred through the use of this indicator.
BTC Confluence Alert 1 Overall Purpose
This script is a custom TradingView indicator that scans for confluence (agreement) between:
BTC’s short-term and medium-term momentum (12-minute and 1-hour RSIs),
The MACD histogram (trend direction and momentum strength),
Bitcoin dominance (money flowing back into BTC).
When all three are bullish, it flashes green and triggers a single alert.
BTC Sigma CloudOverview
The BTC Sigma Cloud indicator calculates and displays 1, 2, and 3 sigma price movements for Bitcoin (BTC) on a rolling basis, visualized as a cloud. It shows historical volatility bands and projects them forward for the next 7 days.
Settings:
Vol Lookback: Default is 20 periods. Adjust to change the volatility calculation window.
Interpretation:
Cloud Bands: The cloud consists of three shaded layers representing 1σ, 2σ, and 3σ moves above and below the current price.
1σ (Innermost): 68% probability of price staying within this range.
2σ (Middle): 95% probability.
3σ (Outermost): 99.7% probability.
Historical View: The cloud tracks past price movements based on volatility.
Projection: The cloud extends 7 days forward, indicating potential price ranges based on current volatility.
Labels: Subtle labels (1σ, -1σ, 2σ, -2σ, 3σ, -3σ) mark the upper and lower bounds of each sigma level on the latest bar for clarity.
Trading Use:
Use the cloud to gauge potential support/resistance zones.
Monitor price behavior near sigma levels for breakout or reversal signals.
The projected cloud helps anticipate future price ranges for planning trades.
Notes
Best used on daily charts for Bitcoin.
Adjust the lookback period to suit shorter or longer-term analysis.
Combine with other indicators for confirmation.
BTC 5M Scalper: 3EMA Reversal v1.6 Lite by AIOBest Timeframe: 5 minutes!!
Optimal Asset: BTC/USDT (Bitcoin)
Stop Placement: Below the signal candle's low (for long) / Above the signal candle's high (for short)
Risk/Reward: Minimum 1:2 ratio recommended
Description:
This 3EMA Reversal strategy identifies trend continuation signals using:
Fast EMA (20) and Slow EMA (50) crossover
Volume confirmation (above 20-period average)
Engulfing candle pattern
Built-in stop loss and take profit levels
Usage Instructions:
Apply to BTC/USDT 5-minute chart
Enter long when green triangle appears (stop below signal candle)
Enter short when red triangle appears (stop above signal candle)
TP levels are automatically calculated based on your RR setting
Pro Tip: Combine with 1-hour trend analysis for better results. The strategy works best in trending markets with above-average volume.
BTC Spot Aggregated Volume + 20EMAThe purpose of this indicator is to provide a more comprehensive view of Bitcoin's spot market activity by combining volume data from several sources.
1. Fetches and aggregates spot volume data for BTC from the following exchanges:
Binance (BTCUSDT)
Coinbase (BTCUSD)
Kraken (BTCUSD)
Bitfinex (BTCUSD)
Bitstamp (BTCUSD)
KuCoin (BTCUSDT)
Gate.io (BTCUSDT)
OKX (BTCUSDT)
Huobi (BTCUSDT)
2. Calculates a 20-period EMA on the aggregated volume to smooth out the data and identify volume trends.
This indicator is particularly useful for traders who want a broader view of real BTC spot market activity, rather than relying on a single exchange's data, which might be misleading or incomplete. By averaging across major exchanges, the indicator helps reduce noise and gives a more accurate picture of volume trends.
BTC Spot vs Perpetual CVD DivergenceThis indicator:
Data Sources:
Uses Binance BTC/USDT for spot market
Uses Binance BTC/USD perpetual (USD-M) for futures market
Both symbols should be available on TradingView
CVD Approximation:
Since true CVD requires order book data (not fully available in Pine Script), we approximate it by:
Multiplying volume by price direction (+1 for up bars, -1 for down bars)
Summing over the specified lookback period
Normalization:
Normalizes both CVD values to a -1 to 1 range for fair comparison
This accounts for different volume scales between spot and perpetual markets
Divergence Calculation:
Subtracts normalized perpetual CVD from spot CVD
Positive values indicate spot market is more bullish than perpetual
Negative values indicate perpetual market is more bullish than spot
Visualization:
Red line: Main divergence indicator
Green line: Normalized spot CVD
Blue line: Normalized perpetual CVD
Green background: Strong positive divergence (>0.5)
Red background: Strong negative divergence (<-0.5)
Gray dashed line at zero
Limitations:
This is an approximation since true CVD requires buy/sell volume separation, which isn't directly available
Results may vary depending on timeframe and lookback period
Assumes volume data reliability from both markets
