This script compares the spot or USDT vwaps to the perpetuals, or USDTPERP, specifically for Binance.
This script will only work properly on binance perpetual charts. It auto detects which chart you're on and shows the appropriate comparison.
I made this due to the volume discrepancies between the derivative and spot markets.When the oscillator is below zero, the perpetual vwap is below the spot vwap, if it's above, the perpetual vwap is above the spot vwap.
Colors become more extreme the further away the vwaps are. Bright green increase the odds of a bullish reversal, red or pink columns indicate a potential for bearish reversal.
For example. If I'm on the BINANCE:ETHUSDTPERP chart, the script will compare the BINANCE:ETHUSDT to the BINANCE:ETHUSDTPERP vwaps with the input metrics.
Users can change the thresholds that determine the colors of the plots on the oscillator. Users can also input the time frame observed. The default is set to 'D' or daily Vwaps. If you change the time frame you'll likely have to tweak the thresholds to give reasonable color indication.
DM for access.
Thanks.
This script will only work properly on binance perpetual charts. It auto detects which chart you're on and shows the appropriate comparison.
I made this due to the volume discrepancies between the derivative and spot markets.When the oscillator is below zero, the perpetual vwap is below the spot vwap, if it's above, the perpetual vwap is above the spot vwap.
Colors become more extreme the further away the vwaps are. Bright green increase the odds of a bullish reversal, red or pink columns indicate a potential for bearish reversal.
For example. If I'm on the BINANCE:ETHUSDTPERP chart, the script will compare the BINANCE:ETHUSDT to the BINANCE:ETHUSDTPERP vwaps with the input metrics.
Users can change the thresholds that determine the colors of the plots on the oscillator. Users can also input the time frame observed. The default is set to 'D' or daily Vwaps. If you change the time frame you'll likely have to tweak the thresholds to give reasonable color indication.
DM for access.
Thanks.
Versionshinweise:
Removed barcoloring