Premium/Discount (Input)Used to show Contango or Backwardation in futures contracts vs spot price. You can input your own tickers so can technically can be used to compare anything.
* In this example I'm showing Okex Quarterly contract vs Okex spot index price because it showcases it better.
* If you are using this after 2019 the default setting will not work because I set it to Bitmex which does not currently have a "current contract in front" ticker available.
It should be fairly self explanatory, but just ask below if you have any questions.
Backwardation
TEDong XBT Sep/Dec19 Futures Premium/Deficit:Hi Folg,
BITMEX Contango/Backwardation is fundamental analysis, act as confirmation for BUY and SELL. A change between Contango and Backwardation often highly correlated with stronger price changes.
Contango : SELL!!! (Background olor: RED)
Backwardation : BUY!!! (Background olor: GREEN)
Backwardation occurs when spot is more expensive that the futures and this confirms a buy and vise versa for Contango.
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XBT Contango / Backwardation Index [ rumpypumpydumpy ]Experimental idea calculating the momentum of contango/backwardation of spot/perp vs futures as an index. Basically the "RSI" of C/B. Histogram displays the ratio of C/B vs chart close. Multiplier is arbitrary and just to be able to "magnify" the histogram to a visible level.
Has some interesting divergences and as well as ratio trends, zero line cross overs as well as upper and lower CBI/bollinger interactions.
I haven't looked at it properly, but I suspect due to the generally low fluctuations relative to price, intraday will probably be less and less useful as you go to shorter time frames. Most likely useful for higher TFs and could possibly even indicate tops/bottoms on higher TFs, eg significantly high and highest recent ratio + CBI divergence + CBI/BB upper/lower band touch/breach.
In general it seems to be that the higher the ratio the more likely the divs are to be valid.
By default it has the bitmex index as the future's tickerid (which doesn't produce anything useful). You WILL need to add the rest of the tickerid for the futures contract you wish to use - ie BITMEX:XBTM19
Note that due to nonexistent data on the contracts' open, the first x candles (default length is 14) will be inaccurate and you should use the previous contract's data for at least that period.
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Contango-Backwardation-Buschi
English:
This script shows the difference between a future's continuous current contract (e. g. CL1!) and the continuous next contract (e. g. CL2!). Normally, the next contract is more expensive ("Contango" - shown in green). If the next contract is cheaper, the difference is negative ("Backwardation" - shown in red).
A change between Contango and Backwardation often corresponds with stronger price changes.
Deutsch:
Dieses Skript zeigt den Unterschied zwischen dem kontinuierlichen aktuellem Kontrakt eines Futures (z. B. CL1!) und dem kontinuierlichen Folgekontrakt (z. B. CL2!). Im Normalfall ist der Folgekontrakt teurer ("Contango" - angezeigt in grün). Wenn der Folgekontrakt billiger ist, ist die Differenz negativ ("Backwardation" - angezeigt in rot).
Ein Wechsel zwischen Contango und Backwardation korrespondiert häufig mit größeren Preisänderungen.
