Bitcoin Wookalich Ratio (NVT)

2019년 3월 24일

The Wookalich Ratio is an indicator derived from the NVT Signal. This is a tool used in Bitcoin markets to predict tops and bottoms.

The Wookalich Ratio aims to correct long-term inflation skewing through the use of a dilution factor.

I've setup this indicator for it to be possible to base the calculations on custom:

• Transaction Periods
  
• Overbought levels (110 by default)
  
• Oversold levels (32 by default)
  

Credit for this idea goes to cryptopoiesis twitter.com/cryptopoiesis

You're welcome to use add it to your charts.

2024년 11월 5일

릴리즈 노트

The Wookalich Ratio (NVT) was computed using an estimated transactional volume from Quandl which was available until 2023.

From 2024 all NVT indicators became unusable. This is an attempt to fix the indicator by using the On-Chain Bitcoin Volume. The problem is that transactional volume is way lower than the On-Chain value, due to the effect of internal moves between accounts of the major exchanges.

Therefore from now on, the values delivered by the indicator don't correlate with the values delivered before 2024. That turns the indicator useless in its current state.

I'll fix the indicator whenever we have available at Tradingview a new source from where to compute the transactional BTC volume.

In the meantime, you might consider using the Pulse DPO indicator. It has trigger on all BTC Major Tops and Bottoms, plus it signals the cycles on other markets like stocks, forex, indexes and commodities.