Blockchain Fundamental

2023년 9월 30일

This indicator is made for traders to harness fundamental blockchain data for better decision-making. Unlike traditional tools, this indicator doesn't depend on standard technical indicators. It offers a novel perspective by focusing on core blockchain metrics like capitalization, miner activity, and other intrinsic data elements. I've designed a distinct scoring logic, exclusive to BF, ensuring it's user-friendly and provides actionable insights for traders at all levels.

Mainly created for Bitcoin, but can be applied to any other crypto assets in cost of losing some metrics in the analysis.

Ethereum chart:


Features:
Customizable Moving Averages:
Choose from an array of moving averages, with the flexibility to adjust the length for a tailored analysis, aiding in pinpointing asset trends.

Blockchain Metrics Integration:
Incorporates a range of blockchain metrics such as Market Cap to Realised Cap ratio, Spent Output Profit Ratio, ATH Drawdown, and more.

Blockchain Metrics Evaluation:
Each metric can be toggled on/off to customize the analysis. Using default settings, traders can use all of the metrics combined.
Every metric is essentially evaluated on a scale from -100 to 100 and then combined with others. If any metric is uncertain about its direction (equals to 0), then the score of it is not accounted in a final calculation.

Kalman Filter:
This indicator offers the option to apply a Kalman filter to the signals, enhancing the smoothness and accuracy of the indicator’s output. This is my approach to mitigate the noise in the final output.

Signal Oscillator:
Displays the aggregated score of all selected blockchain metrics.
Offers visual signals with adjustable upper and lower bounds for easy interpretation based on particular asset observation.

Visual Elements:
Signal Oscillator:
A visual representation of the aggregated blockchain fundamental score.
(White line for a raw calculation, orange line for kalman-filtered one)
Signal Counter:
Displays the count of metrics currently being considered in the fundamental score calculation. (grey line at the middle of an indicator)
Buy/Sell Signal Coloring:
The background color changes to indicate potential buying or selling opportunities based on user-defined bounds.

Usage:
Analysis:
Use the signal oscillator to identify potential market tops and bottoms based on blockchain fundamental data.
Adjust the bounds to customize the sensitivity of buy/sell signals.

Customization:
Enable/disable specific blockchain metrics to tailor the indicator to your analytical needs.
Adjust the moving average type and length for better analysis.

Integration:
Combine with other technical indicators to create a comprehensive trading strategy.
Utilize in conjunction with volume and price action analysis for enhanced decision-making. Every output could be used in traders custom strategies and indicators.

2024년 9월 17일

릴리즈 노트

In this update:

1- I enhanced scripts functionality
2 - Added more blockchain metrics
3 - Added more Moving Averages
4 - Updated the script to make it work again after Quandl data error