This is just a couple of custom indicators to plot TROLOLO logarithmic regression and the relative valuation of bitcoin against it.
Hope you find it useful.
Hope you find it useful.
Comment:
//@version=3
study("TROLOLO DAILY LINE")
//calculate how many days since bitcoin launch
is_newbar(res) =>
t = time(res)
change(t) != 0 ? 1 : 0
count=549+cum(is_newbar("D"))
//calculate trololo valuation (log regression)
TROLOLO2 = pow(10,(2.66167155005961*log(count) - 17.9183761889864))
plot(TROLOLO2,title='trololodaily',color=red,linewidht=4)
study("TROLOLO DAILY LINE")
//calculate how many days since bitcoin launch
is_newbar(res) =>
t = time(res)
change(t) != 0 ? 1 : 0
count=549+cum(is_newbar("D"))
//calculate trololo valuation (log regression)
TROLOLO2 = pow(10,(2.66167155005961*log(count) - 17.9183761889864))
plot(TROLOLO2,title='trololodaily',color=red,linewidht=4)
Comment:
These scripts only work in BNC:BLX symbol for daily timeframe. It could be easily adapted for other symbols and timeframes just editing the calculation of days since bitcoin launch
// thi is to count days since bitcoin launch
is_newbar(res) =>
t = time(res)
change(t) != 0 ? 1 : 0
count=549+cum(is_newbar("D"))
//this is to calculate trololo valuation per day
TROLOLO2 = pow(10,(2.66167155005961*log(count) - 17.9183761889864))
//this is to get bitcoin price each day
btcprice=tickerid("BNC","BLX")
btcprice2 = security(btcprice,"D",ohlc4,true)
//this is to get the relative value of bitcoin vs trololo valuation
RELATIVEVAL = (btcprice2-TROLOLO2)/TROLOLO2*100
//this is just a reference line
BASELINE = 0
plot(RELATIVEVAL,title='trololoregression',color=red, linewidth=3)
plot(BASELINE, title='baseline',color=black,linewidth=2)