Daily Network Value to Transactions Signal (NVTS)

10 באוג׳ 2023

Quote of GlassNode ...
The NVT Signal (NVTS) is a modified version of the original NVT Ratio.
It uses a 90 day moving average of the daily transaction volume in the denominator instead of the raw daily transaction volume.
This moving average improves the ratio to better function as a leading indicator.

The Network Value to Transactions (NVT) Ratio is calculated by dividing the market cap by the transferred on-chain volume measured in USD.
GlassNode says the NVT Ratio was created by Willy Woo.

I have peaked into Glassnode and took their idea.
I also added a few more Moving Averages to select from, and the length can also be changed.

This script does not depend on Glassnode alone, instead I pulls data of several services...

• CoinMarketCap
  
• CoinMetrics
  
• GlassNode
  
• IntoTheBlock
  

Therefor we have more Tokens to select from.
I have also blocked some faulty data of each service.
If you get a study error of any kind then there is no data available,
or you on a wrong timeframe.

Best to use this script in a daily chart.
And keep in mind it pulls data of yesterday.
Therefor the plot is offset by 1 to the left.

The script will check each service if the data for the chart is available.
Market Cap is taken in the following order ...

1. CainMarketCap
   
2. GlassNode
   
3. CoinMetrics
   

Transaction volume as USD is taken in the following order ...

1. IntoTheBlock
   
2. CoinMetrics
   
3. GlassNode
   

Happy Trading!