BitcoinUpdated Bitcoin Strength Index source code
For those who interested, here is a Bitcoin Strength Index source code. I used it on weekly chart with params (close,28). And only with Bitcoin. And only during bull run. It shows how far price went off the particular moving average during bubble run (i.e. being above BB). Weekly MA 28 is approximately daily ma 200.
The physical meaning of this indicator is to show current bull rally "speed".
study("Bubble Strength Index")
bsi(scope,length) =>
s = sma (scope,length)
[mid1,high1,low1] = bb (close,20,2)
float result = 0
result:=high > high1 ? high / s : 1
plot(bsi(close,28))
The physical meaning of this indicator is to show current bull rally "speed".
study("Bubble Strength Index")
bsi(scope,length) =>
s = sma (scope,length)
[mid1,high1,low1] = bb (close,20,2)
float result = 0
result:=high > high1 ? high / s : 1
plot(bsi(close,28))
Note
Ah i found how to share script
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.