TROLOLO LOG REGRESSION FOR BITCOIN

15 mag 2019

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.

16 mag 2019

Nota

study("TROLOLO RELATIVE VALUATION")

// 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)

16 mag 2019

Nota

//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)

16 mag 2019

Nota

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