BTC - Hotness Index

2023년 10월 16일

### Script Description

#### BTC - Hotness Index

This Pine Script, version 4, aims to generate a "Hotness Index" for Bitcoin (BTC) trading by utilizing a Pi Cycle Top Indicator. The script operates in a daily (`1D`) time frame and involves calculating two Simple Moving Averages (SMA) based on `close` prices:

- 111-day SMA (`D_111SMA`)
- 350-day SMA (`D_350SMA`) multiplied by 2

The primary indicator (`pi_indicator`) is derived by dividing `D_111SMA` by `D_350SMA`.

##### Sell Signal
A sell signal is plotted as a histogram if `pi_indicator` crosses above 1 (`pi_plot` variable).

##### Buy Signal
A buy signal is plotted as a histogram if `pi_indicator` crosses below 0.35 (`pi_plot_buy` variable).

##### Horizontal Lines
Two horizontal lines are included to denote the "Buy Zone" and "Sell Zone":

- "Sell Zone" at `pi_indicator` level of 1
- "Buy Zone" at `pi_indicator` level of 0.35

##### Plotting
Histogram plots are used for visualizing the signals:
- Sell signals are colored red (`RGB: 255, 59, 59`)
- Buy signals are colored green (`RGB: 82, 255, 59`)

This script provides traders a visual guide for potential buy/sell opportunities based on the Pi Cycle Top Indicator and the Hotness Index for Bitcoin. It operates under the terms of the Mozilla Public License 2.0.

2023년 12월 13일

릴리즈 노트

New short term indicator add-on

2024년 1월 29일

릴리즈 노트

...

2024년 1월 30일

릴리즈 노트

Indexed in range 0 to 1