This is from https://x.com/JimSixOneEight/ (Jim618)...
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//@version=5
indicator("Bitcoin Power Law with 100-Day Extrapolation - @JimSixOneEight on Twitter ", overlay=true)
// Calculate days since Bitcoin genesis block (Jan 3, 2009)
days_since_genesis = (time - timestamp("UTC", 2009, 1, 3, 0, 0)) / (1000 * 60 * 60 * 24)
// Power law formula: P(t) = 2.88 * (t / 1000)^5.82
power_law = days_since_genesis > 1 ? 2.88 * math.pow(days_since_genesis / 1000, 5.82) : 0.0
plot(power_law, title="Power Law", color=color.blue, linewidth=2)
// Extrapolate 100 days into the future
days_future = days_since_genesis + 100
power_law_future = days_future > 1 ? 2.88 * math.pow(days_future / 1000, 5.82) : 0.0
// Determine bars to extend based on timeframe
// The goal is to represent 100 days regardless of the chart's timeframe.
// We need to calculate how many bars 100 days translates to for the current timeframe.
float bars_to_future_calc = 0.0
if timeframe.isdaily
bars_to_future_calc := 100.0
else if timeframe.isweekly
// 100 days / 7 days/week = approx 14.28 weeks
bars_to_future_calc := 100.0 / 7.0
else if timeframe.ismonthly
// 100 days / (approx 30.4375 days/month) = approx 3.28 months
// We use 30.4375 as the average number of days in a month (365.25 / 12)
bars_to_future_calc := 100.0 / 30.4375
else
// For any other timeframe, we default to daily calculation for now or
// you could add more specific calculations if needed.
// As the original code defaulted to 100, we'll keep that as a fallback if no specific timeframe matches
// This is less ideal but maintains original logic for unhandled timeframes.
bars_to_future_calc := 100.0 / (timeframe.multiplier * (timeframe.isintraday ? 1.0 : 1.0 )) // This line needs more thought for truly general case beyond D, W, M.
// For this specific 100-day extrapolation, we need to convert 100 days into the current chart's bar duration.
// The simplest way for non-standard timeframes (beyond D, W, M) is to estimate.
// Let's refine for a more general approach by calculating days per bar:
float ms_per_bar = timeframe.in_seconds() * 1000.0
float days_per_bar = ms_per_bar / (1000 * 60 * 60 * 24)
if days_per_bar > 0
bars_to_future_calc := 100.0 / days_per_bar
else
bars_to_future_calc := 100.0 // Fallback if days_per_bar is zero (shouldn't happen for valid timeframes)
// Draw extrapolation line on the last bar
var line future_line = na
// We want to update the line only on the last bar of the chart.
// The `barstate.islast` variable is the most robust way to do this.
if barstate.islast
line.delete(future_line) // Delete the previous line to redraw
future_bar_index = bar_index + math.round(bars_to_future_calc)
future_line := line.new(bar_index, power_law, future_bar_index, power_law_future, color=color.green, style=line.style_dashed, width=2)
// Remarks:
// - Calculates Bitcoin price using power law model: P(t) = 2.88 * (t/1000)^5.82, where t is days since Jan 3, 2009.
// - Plots a blue line for the power law and a dashed green line for 100-day extrapolation.
// - Supports daily, weekly, and monthly timeframes by adjusting bar counts for extrapolation.
// - Uses 'barstate.islast' to ensure the extrapolation line is drawn and updated only on the most recent bar.
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