OPEN-SOURCE SCRIPT
Updated Bubble indicator
A simple and accurate indicator that signals the end of the Bitcoin's bull run. This indicator is an inverted lower Bollinger band , taken from a weekly chart. An interesting observation led to the creation of this indicator: on the weekly chart the lower band takes negative values (the red zone in the indicator) at the end of the Bitcoin's bull run. The advantage of this indicator is that the signal comes in advance.
Release Notes
Just the jump of the algorithm to 5 Pine Script versionRelease Notes
Small changes in code style.Release Notes
Lower Bollinger Band Inversion (LBBI)This indicator provides a simple and accurate signal for identifying the potential end of a Bitcoin bull run. It is based on the lower Bollinger Band, calculated from a weekly chart. The indicator is designed to spot when the lower Bollinger Band turns negative, a phenomenon observed at the end of Bitcoin's major bull runs.
Key Features:
Red Circles: Red circles on the chart mark areas where the lower Bollinger Band takes negative values, signaling a potential reversal in the market trend.
Weekly Timeframe: The calculation uses a 7-day (weekly) timeframe, which helps identify macro-level trend changes.
How it works: When the lower Bollinger Band on the weekly chart turns negative, it suggests that the market is reaching an extreme level, often marking the end of a strong bullish phase for Bitcoin. This could indicate a potential reversal or correction.
Parameters:
Length: The period used for the simple moving average and standard deviation in the Bollinger Bands calculation (default is 28).
StdDev: The factor by which the standard deviation is multiplied to define the upper and lower bands (default is 2.0).
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.