BTC Top Indicator - Extension from 20 Week SMA (Normalized)

30 ส.ค.This Indicator calculates the logarithmic deviation of the BTCUSD price from its 20-week SMA and dynamically normalizes it between a lower signal line (-0.57) and an upper trendline defined by two historical points (May 30, 2011, at 1.75 and March 4, 2024, at 0.45).

The indicator line color changes dynamically:

• green below 0
  
• blue at 0.5
  
• red above 1
  

Ideal for analyzing BTCUSD on the Index chart to identify potential overbought or oversold levels. It's better suited for identifying tops, than bottoms.