Master Litecoin Hashrate Indicator

This script is a custom indicator called "Master Litecoin Hashrate Indicator," designed to track and visualize Litecoin's hashrate trends in the form of both a moving average and raw hashrate data. Here’s a breakdown of how it works:

Overview:
Indicator Type: It’s an overlay set to false, meaning it won’t be plotted directly on the price chart but on a separate pane beneath it.

Litecoin Hashrate: This tracks the computational power used to mine Litecoin, in PH/s (Peta Hashes per second).

Key Components:
Inputs:

ma_length: This is the length of the moving average, calculated as half of 7 (which equals 3.5), to smooth out the hashrate data.

Hashrate Data:

hashrate: The script pulls real-time Litecoin hashrate data using the INTOTHEBLOCK:LTC_HASHRATE security symbol from TradingView.

ma_hashrate: A simple moving average (SMA) is applied to the raw hashrate data over the defined period (ma_length), helping to smooth out short-term fluctuations.

Plotting:

hashrate: The raw hashrate is plotted in yellow with a linewidth of 2.

ma_hashrate: The moving average of the hashrate is plotted in white with a linewidth of 2.

Background Color:

The background color changes dynamically depending on the relationship between the raw hashrate and its moving average:

If the raw hashrate is greater than the moving average, the background turns a yellow color (with 90% transparency).

If the raw hashrate is less than the moving average, the background turns blue (with 90% transparency).

If they are equal, there is no background color change.

Purpose:
This indicator helps to visualize the current hashrate trends and compare them with the longer-term moving average. By doing so, it can highlight periods where the hashrate is either increasing or decreasing significantly, giving traders insights into network activity and mining strength.