BTC Transaction

Indicator Name: "Bitcoin On-Chain Volume & Dynamic Parabolic Curve Signals"

Purpose:
This indicator is designed for Bitcoin traders and long-term holders. It combines the analysis of Bitcoin's on-chain transaction volume with price action to generate "Whale" and "Bear" signals. Additionally, it features a unique dynamic parabolic curve that acts as a visual support line, adapting its visibility based on price interaction with a key Exponential Moving Average (EMA).

Key Components:

On-Chain Volume Analysis:

Utilizes Estimated Transaction Volume (ETRAV) data from the Bitcoin blockchain.

Calculates fast and slow Simple Moving Averages (SMAs) of this volume.

Identifies volume trends (up/down) and significant volume increases/decreases.

Employs fixed thresholds (2,500,000 for low volume and 25,000,000 for high volume) to define key activity levels, similar to how historical on-chain analysis defined accumulation and distribution zones.

Price Action Analysis:

Calculates fast and slow SMAs of the price.

Detects price trends (up/down), recoveries, and declines based on these price SMAs.

"Whale" and "Bear" Signals:

Whale Signals (Buy-side): Generated when there's an upward volume trend, significant volume increase, and a downward price trend followed by price recovery. These indicate potential accumulation phases.

Bear Signals (Sell-side): Generated when there's a downward volume trend, significant volume decrease, and an upward price trend followed by price decline. These indicate potential distribution phases.

Visuals: Both types of signals are plotted as small, colored circles directly on the price chart, with corresponding text labels ("Whale," "Buy," "Bear," "Sell," "Price Recovering," "Price Declining").

Dynamic Parabolic Curve:

Concept: A green parabolic (exponential) curve that serves as a dynamic visual support line.

Activation: The curve starts drawing automatically only when the price crosses over the EMA 500 (Exponential Moving Average of 500 periods). The curve's starting point is set at a user-defined percentage below the EMA 500 value at that exact crossover point.

Visibility: The curve remains visible and continues its trajectory only as long as the price stays above the EMA 500.

Deactivation: The curve disappears instantly if the price falls below or equals the EMA 500. It will only reappear if the price crosses above the EMA 500 again.

Customization: The curve's steepness (Tasa Crecimiento Curva) and its initial distance from the EMA 500 (Inicio Curva % por debajo de EMA500) are adjustable.

Dynamic Label: A "Parabólico" text label is plotted near the center of the active curve segment, with an adjustable vertical offset to ensure it stays visually appealing below the curve.

What is PLOTTED on the chart:

The small, colored circle signals for Whale/Buy and Bear/Sell activity.

The green dynamic parabolic curve.

What is NOT PLOTTED:

EMA 200, EMA 500 lines (though they are calculated internally for logic).

Raw volume data or volume Moving Averages (these are only used for signal calculation, not plotted).

Ideal for:
Bitcoin traders and investors focused on long-term trends and cycle analysis, who want visual cues for accumulation/distribution phases based on on-chain activity, complemented by a unique, dynamically appearing parabolic support curve.

Important Notes:

Relies on the availability of external on-chain data (QUANDL:BCHAIN) within TradingView.

Functions best on a daily timeframe for optimal on-chain data relevance.