capriole_charles

Hash Ribbons

Buying during Miner Capitulation yields wonderful returns.

The best buy signals occur on Hash Rate "recovery", and when price momentum is also positive.

Historically, this strategy has yielded average returns to cycle peak of >5000%, with max Drawdown of -15%.

Follow me to learn more about this indicator.
Oct 30
Notes de version: Updated shape titles.
Oct 30
Notes de version: Cleaned up chart/code. No technical changes.
Nov 12
Notes de version: More chart formatting for clarity on "light" TradingView theme.

No technical changes.
Nov 16
Notes de version: Release Notes: Update v1.1

  • All prior calculation logic remains unchanged.

    This Update includes:
    Fix of re-painting issue on live data. This stop false alerts before the daily bar has closed. On live data, yesterday’s Hash Rates will be used regardless of the Bitcoin ticker symbol you are looking at.
  • Addition of multi-time-frame management. This now gives you the ability to use this indicator on any time-frame (Minutely, Hourly, Daily) and always know you are looking at the Hash rate values from yesterday's close.

Enjoy!
Nov 18
Notes de version: Added optional Hash Rate "Growth" Oscillator.

To use, change the indicator setting "Plot Type" to "Oscillator".

For more information, see my TradingView "Idea": "Miner Confusion? An Unusual State in Hash Rate Growth"

Nov 19
Notes de version: Added "Capitulation" and "Recovery" text to plot
Nov 19
Notes de version:
  • Added chart "alerts" for easier notification
  • Added chart shape "titles"
  • Minor chart formatting tweaks
  • No calculation changes
Nov 23
Notes de version:
  • Added notes in code explaining how to use the "Spring" (copied below)
  • Added option to display raw Hash Rate
  • Fixed minor bug where 1 blue circle in 2012 didn't appear on the chart


The "Spring" is the confirmed Miner Capitulation period:
- The 1st "gray" circle is the start of Capitulation (1 month Hash Rate crosses UNDER 2 month Hash Rate)
- Last "green" circle is the end of Capitulation (1 month Hash Rate crosses OVER 2 month Hash Rate)
- The "greener" the spring gets (up until blue) represents Hash Rate recovery (it is increasing)
- The "blue" circle is the first instance of positive momentum following recovery of Hash Rate (1m HR > 2m HR). This is historically a rewarding place to buy with limited downside.
Nov 28
Notes de version: Small fix for intra-day time frame management.
Nov 29
Notes de version: Minor code tweak.
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REPAINT?
+1 Répondre
Good Indicator and i shall check this with my other scripts
+1 Répondre
Hello does this indicator only work for BTc? Tried on many different alts all look the same
+1 Répondre
@Frankybb, it is based on Bitcoin data and is only relevant to Bitcoin.

At present TradingView does not have any altcoin on-chain data.
+2 Répondre
Thanks for the illustration style. It inspired our on-chain volume indicator.
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is there an indicator for hashrate ribbons on Litecoin or Ethereum classic?
Répondre
@yomofoV, I don't think so. The data source is pulled from blockchain.info data on Quandl, which currently only has bitcoin on-chain data. While the hashrate data for some altcoins are available from other sources, most of them do not have partnerships with TradingView and thus couldn't be used to create an indicator here.
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Very Awesome indicator. Thank You for sharing with us.
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@sharkpool, my pleasure - enjoy!
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