Code:
//@version=4
study("Bitcoin Power Law Corridor",overlay=true)
// Based on "Bitcoin’s natural long-term power-law corridor of growth" by Harold Christopher Burger
// Days X-Axis Value
start = time == timestamp(2010,7,19,0,0) // First BLX Bitcoin Date
days = security("BNC:BLX", "D", barssince(start))
offset = 564 // days between 2009/1/1 and "start"
d = days + offset
// Burger's Regression
a = input(-17.01593313,'Regression "a"')
b = input(5.84509376,'Regression "b"')
e = a + b*log10(d)
y = pow(10,e)
// Resistance Log (est)
a2 = input(-13.3,'Resistance "a"')
b2 = input(5.0,'Resistance "b"')
e2 = a2 + b2*log10(d)
y2 = pow(10,e2)
// Support Log (est)
a3 = input(-17.35,'Support "a"')
b3 = input(5.84509376,'Support "b"')
e3 = a3 + b3*log10(d)
y3 = pow(10,e3)
// Label Deltas
delta_res = round((y2/close - 1.0)*100)
delta_cen = round((y/close - 1.0)*100)
delta_sup = round((y3/close - 1.0)*100)
m1 = close < y2? "+" : ""
m2 = close < y? "+" : ""
m3 = close < y3? "+" : ""
// Plot
p1 = plot(y,color = color.gray,title="Log Reg")
p2 = plot(y2,color = color.red,title="Resistance")
p3 = plot(y3,color = color.lime,title="Support")
fill = input(true,"Plot Line Fill?")
fill(p1,p2,color=(fill?color.red:na),transp=90)
fill(p1,p3,color=(fill?color.green:na),transp=90)
// Labels
labels = input(true,"Plot Opportunity Labels?")
if labels and barstate.islast
label.new(bar_index, y3, style=label.style_labelup,
text="Resistance = " + m1 + tostring(delta_res) + "% \nCentre = " + m2 + tostring(delta_cen) + "% \nSupport = " + m3 + tostring(delta_sup) + "%",
textcolor=color.white,color=color.gray)
study("Bitcoin Power Law Corridor",overlay=true)
// Based on "Bitcoin’s natural long-term power-law corridor of growth" by Harold Christopher Burger
// Days X-Axis Value
start = time == timestamp(2010,7,19,0,0) // First BLX Bitcoin Date
days = security("BNC:BLX", "D", barssince(start))
offset = 564 // days between 2009/1/1 and "start"
d = days + offset
// Burger's Regression
a = input(-17.01593313,'Regression "a"')
b = input(5.84509376,'Regression "b"')
e = a + b*log10(d)
y = pow(10,e)
// Resistance Log (est)
a2 = input(-13.3,'Resistance "a"')
b2 = input(5.0,'Resistance "b"')
e2 = a2 + b2*log10(d)
y2 = pow(10,e2)
// Support Log (est)
a3 = input(-17.35,'Support "a"')
b3 = input(5.84509376,'Support "b"')
e3 = a3 + b3*log10(d)
y3 = pow(10,e3)
// Label Deltas
delta_res = round((y2/close - 1.0)*100)
delta_cen = round((y/close - 1.0)*100)
delta_sup = round((y3/close - 1.0)*100)
m1 = close < y2? "+" : ""
m2 = close < y? "+" : ""
m3 = close < y3? "+" : ""
// Plot
p1 = plot(y,color = color.gray,title="Log Reg")
p2 = plot(y2,color = color.red,title="Resistance")
p3 = plot(y3,color = color.lime,title="Support")
fill = input(true,"Plot Line Fill?")
fill(p1,p2,color=(fill?color.red:na),transp=90)
fill(p1,p3,color=(fill?color.green:na),transp=90)
// Labels
labels = input(true,"Plot Opportunity Labels?")
if labels and barstate.islast
label.new(bar_index, y3, style=label.style_labelup,
text="Resistance = " + m1 + tostring(delta_res) + "% \nCentre = " + m2 + tostring(delta_cen) + "% \nSupport = " + m3 + tostring(delta_sup) + "%",
textcolor=color.white,color=color.gray)
