LonesomeTheBlue

Bitcoin Bullish Percent Index

LonesomeTheBlue Wizard 업데이트됨   
Hello Traders,

This is Bitcoin Bullish Percent Index script. First lets talk about what the Bullish Percent Index and how it is calculated:

"The Bullish Percent Index (BPI) is a breadth indicator based on the number of securities on Point & Figure Buy Signals, Developed by Abe Cohen in the mid-1950s. Because a security is either on a P&F Buy or Sell Signal, there is no ambiguity when it comes to P&F charts. This makes BPI a straightforward indicator with clearly defined signals."

The calculation is straightforward and simple: (Number of securities on P&F Buy signals) / (Total number of securities)

Here you can see what the P&F buy signal is:

In this script I choose 40 cryptos that is correlated (as I see) with BTC (including BtcUsdt ). in the first part the script creates P&F chart for each security and check if there is Buy or Sell signal and sum the buy signals if there is. in the second part it creates P&F chart by using the P&F buy/sell signals coming from the securities P&F chart. because of complicated calculation the script may need a few seconds to load.

in the first part reversal value is 3 by default but you can set different values as reversal. sometimes I got better results with reversal = 5.

in BPI part reversal = 3 is used. so each box represents 2% (each X or O is a box). And this means it takes at least a 6% move in BPI for a reversal. the Bullish Percent Index favors the bulls when above 50% and the bears when below 50%. The bulls have the edge when over 50% of stocks are on a P&F Buy Signal. BPI is also considered overbought when above 70% and oversold when below 30%. BPI can move between 0 and 100.

Because of 40 securities are used in the script and all different prices, it uses Percentage scaling only. it can calculate the Percentage automatically by using the time frame of the chart or you can set it as you wish.

The Signals coming from BPI:
Bull Alert: BPI is below 30% and then forms a new column of X's (rises)
Bear Alert: BPI is above 70% and then forms a new column of O's that decline below 70%.
Bull Confirmed: BPI is on a P&F buy signal and in a column of X's (rising).
Bear Confirmed: BPI is on a P&F sell signal and in a column of O's (falling).
Bull Correction: BPI is on a P&F buy signal, but currently falling (column of O's).
Bear Correction: BPI is on a P&F sell signal, but currently rising (column of X's).


If you are not familiar with Bullish Percent Index you better search it on the net to get more info, you can find a lot of articles and web sites about BPI.


as I remember I developed the script 6-7 months ago and today I had chance to publish it as it was


Enjoy!
릴리즈 노트:
Removed "BINANCE:MCOUSDT" that is not valid anymore.
릴리즈 노트:
"BINANCE:HCUSDT" removed from the list, as it's not valid anymore.
릴리즈 노트:
"ignore_resolve_errors = true" option added to security() call
number of securities fixed.
릴리즈 노트:
updated
릴리즈 노트:
Fixed the script after Pine team change the parameter of security() function "ignore_resolve_errors" as "ignore_invalid_symbol".

오픈 소스 스크립트

이 스크립트의 오써는 참된 트레이딩뷰의 스피릿으로 이 스크립트를 오픈소스로 퍼블리쉬하여 트레이더들로 하여금 이해 및 검증할 수 있도록 하였습니다. 오써를 응원합니다! 스크립트를 무료로 쓸 수 있지만, 다른 퍼블리케이션에서 이 코드를 재사용하는 것은 하우스룰을 따릅니다. 님은 즐겨찾기로 이 스크립트를 차트에서 쓸 수 있습니다.

면책사항

이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.

차트에 이 스크립트를 사용하시겠습니까?