This script calculates the realized price of BTC/ETH/LTC and shows a signal when the market price falls below the realized price - which can be signal a for potential market bottom. The realized price calculation is based on Glassnode data MVRV ratio.
- Realized Price is the average price of the Bitcoin supply, valued at the day each coin last transacted on-chain. This is often considered the 'on-chain cost basis' of the market.
- MVRV Ratio is the ratio between the market value (MV, spot price) and the Realized value (RV, realized price), allowing for a visualization of Bitcoin market cycles, and profitability.
Calculations: REALIZED PRICE = REALIZED MARKET CAP / CIRCULATION SUPPLY REALIZED MARKET CAP = 1 / MVRV * MARKET CAP
It's working with BTCUSD, ETHUSD, LTCUSD tickers only.
הערות שחרור
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I added price bands and change Realized Price to EMA30 (orange color) from it.
Lower Bands (green color) -70% from Realized price -50% from Realized price -30% from Realized price
Upper Bands (red color) 200% from Realized price 300% from Realized price 400% from Realized price 500% from Realized price
And signals added when price cross bands.
Check how it works.
הערות שחרור
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I added possibility to chose EMA length and added support for more coins. Circulating supply takes from Glassnode or IntoTheBlock. Signals were fixed.