[Algoros] BTC Major Trendline

11月18日

# BTC Major Trendline - Long-Term Bitcoin Trend Analysis

## Overview

BTC Major Trendline is a comprehensive technical analysis tool designed to track Bitcoin's long-term bullish trajectory using historically significant price points. This indicator establishes a primary upward trendline anchored to two major Bitcoin cycle lows, along with optional parallel channels and Fibonacci-based price projections.

## ⚠️ Important Requirements

**This indicator requires a Bitcoin chart with sufficient historical data dating back to at least April 2013.**

**✅ Recommended Charts:**
- `INDEX:BTCUSD` - Bitcoin Index (comprehensive history)
- `BITSTAMP:BTCUSD` - Bitstamp Bitcoin (default setting)

**❌ Will NOT work properly on:**
- Charts with limited history (Like hourly charts)
- Exchanges that launched after 2013
- Altcoin pairs or other cryptocurrencies

If the indicator doesn't display correctly, switch to one of the recommended Bitcoin charts above.

## Key Features

### 📈 Primary Trendline
- Anchored to two historically significant lows:
- **Start Point**: July 6, 2013 - Early Bitcoin accumulation phase
- **End Point**: November 21, 2022 - FTX collapse bottom
- Automatically calculates and extends the trendline based on these anchor points
- Displayed as a solid orange line

### 🔷 Parallel Channel Line (Optional)
- Creates an upper boundary by connecting historical high points:
- April 10, 2013 and June 11, 2017
- Helps identify potential resistance zones and channel breakouts
- Displayed as a blue dotted line for easy distinction

### 🎯 Fibonacci Trendline Multipliers (Optional)
- Seven Fibonacci-based projection lines: **1.6x, 2x, 3x, 5x, 8x, 13x, and 21x**
- Each multiplier creates a parallel trendline above the main trend
- Color-coded from teal to maroon for clear visual separation
- Useful for identifying potential profit-taking zones and long-term price targets

### 📉 Negative Fibonacci Trendlines (Optional)
- Seven division-based support lines: **÷1.6, ÷2, ÷3, ÷5, ÷8, ÷13, and ÷21**
- Projects downward channels below the main trendline
- Displayed in yellow tones for easy identification
- Helps identify extreme oversold conditions and potential bounce zones

## Customization Options

- **Symbol Input**: Track any Bitcoin pair with sufficient history (default: BITSTAMP:BTCUSD)
- **Show/Hide Components**: Toggle parallel line, Fibonacci multipliers, and negative Fibonacci lines independently
- **Line Extension**: Extend lines right, left, both directions, or none
- **Multi-Timeframe Compatible**: View on any timeframe once loaded on a compatible chart

## How to Use

1. **Setup**: First, open a Bitcoin chart with sufficient history (INDEX:BTCUSD or BITSTAMP:BTCUSD recommended)

2. **Trend Confirmation**: The main orange trendline represents the long-term bullish trajectory. Price staying above this line suggests the bull market remains intact.

3. **Channel Trading**: Use the parallel line (blue dotted) as a potential upper boundary for the long-term channel.

4. **Price Targets**: Enable Fibonacci multiplier lines to identify ambitious long-term price targets during bull runs. Higher multipliers (13x, 21x) represent parabolic extension zones.

5. **Support Identification**: Enable negative Fibonacci lines to spot potential support zones during corrections or bear markets.

6. **Risk Management**: Breaking below the main trendline could signal a shift in long-term trend, warranting caution.

## Technical Implementation

- Uses `request.security()` to fetch precise daily prices at historical timestamps
- Requires access to Bitcoin price data from April 2013 onwards
- Calculates slope dynamically based on anchor points
- All lines update in real-time as new price data emerges
- Efficient rendering system minimizes performance impact

## Best Used For

✅ Long-term Bitcoin investors and HODLers
✅ Identifying major trend direction
✅ Setting realistic long-term price targets
✅ Spotting potential support/resistance zones
✅ Multi-timeframe analysis (on compatible charts)
✅ Educational purposes (understanding logarithmic growth)

## Troubleshooting

**Lines not appearing?**
- Ensure you're viewing INDEX:BTCUSD or BITSTAMP:BTCUSD
- Check that the chart has data back to April 2013
- Verify the symbol input matches your chart
- Try switching to a daily or weekly timeframe first

11月18日

版本注释

Update chart image

11月18日

版本注释

• Added a 'Symbol' setting for improved line drawing when using INDEX:BTCUSD. However, BITSTAMP:BTCUSD remains the recommended option.
  

11月18日

版本注释

• Added error messages