Get started
OPEN-SOURCE SCRIPT

Leonid's Bitcoin Omega Ratio Z-Score Indicator

By LeonidBTC
Updated
The goal of this indicator is to find trends & locations where Bitcoin has potentially been overbought or oversold. Besides mean reversion this indicator can also be used to spot trend shifts.

The Omega Ratio is the ratio of returns greater than a threshold to those lower than that threshold.

Lookback period and Z-Score period can both be adjusted. I have default inputs that work well when looking at Bitcoin on a Weekly timeframe on a Logarithmic y-axis.
Release Notes
Renamed and added comments.
Bitcoin (Cryptocurrency)bitcoinpredictionBTCbtcusdanalysisbuysellsignalCyclesforecastingomegaomegaratiooscilattorOscillators

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

LeonidBTC
Also on:

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.