This strategy goes long when BTCs Hash Rate 30 day moving average crosses above the 60 day moving average, signifying that miner capitulation is over and recovery has started. When the opposite signal is given, which signifies the beginning of miner capitulation, the strategy goes short (or flat, depending on configuration). This is generally considered the most popular Hash Rate related strategy.
Thanks to the recent integration of IntoTheBlock data into Tradingview, we can now effortlessly show Hash Rate data on our chart, keep in mind however, that IntoTheBlock doesn't provide Hash Rate data on timeframes below daily, so this strategy is based used on the daily, weekly or even monthly time frames.
Hash Rate definition: The Bitcoin hash rate is the number of times per second that computers on the Bitcoin network are hashing data to verify transactions and perform the encryption that secures the network. The hash rate is an indicator of how healthy the Bitcoin network is at any given time, and is driven primarily by difficulty mining and the number of miners. Generally, a high hash rate is considered a good thing. More precisely, the Bitcoin hash rate is the number of times per second that computers on the Bitcoin network are hashing data to verify transactions and perform the encryption that secures the network.
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As IntoTheBlock data has shown to be unreliable, the newest version of this script now queries Hash Rate data from Glassnode instead.
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Script updated to have a selectable data source, options: IntoTheBlock, Glassnode. Default: IntoTheBlock.
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Added support for Quandl, Nasdaq affiliated data broker. Set Quandl as default option, as very reliable.
@kkangida88, this is a simple cross strategy that's not start dependent and has no components that suffer from repainting. As with all tradingview scripts, the recalculation settings can however trigger repainting. tradingview.com/?solution=43000478429