less than 1 minute read

Summary

Puell Multiple Variants is an open-source Pine Script indicator visualising Bitcoin miner revenue in innovative ways.

Key features

Includes three related indicators for analysing Bitcoin miner revenue dynamics:

  1. Classic Puell Multiple – the original indicator showing how current miner revenue compares to its long-term average.
  2. Halving-Corrected Puell Multiple – applies a compensation factor to adjust for miner revenue reductions after each halving, allowing easier comparison to a consistent overvalued threshold.
  3. Revenue RSI – a novel approach applying the Relative Strength Index to miner revenue to identify potential over- and undervalued conditions.
  • Each component can be shown or hidden individually.
  • All parameters are fully adjustable via input settings.
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Tech stack

  • Pine Script v6
  • TradingView

Comments

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