Neo BitMEX Futures Hedge Grid Alerts Premium v1.0

Jul 29, 2018

This indicator was made to streamline finding the optimal entry to cash and carry/hedge on a futures contract when margin trading.


Explanation of the indicator:
This indicator has built-in alert conditions that you can use to give you email alerts, in-browser sound alerts, or SMS alerts. These alerts are based upon futures prices being in contango or backwardation.
From top to bottom, the grid shows XBTU18, XBTZ18, OkEx's Quarterlies (OKCOIN:BTCUSD3M), and CME's futures.

• Red: Futures are trading above your defined range (default 1%) of spot
  
• Maroon: Futures are trading above twice your defined range of spot
  
• Lime: Futures are trading below your defined range (default 1%) of spot
  
• Green: Futures are trading below twice your defined range of spot
  

What's configurable:

• % to trigger
  
• Grid size
  
• Bar color toggle
  
• Label toggle
  
• Spot/index source (Bitfinex's BTCUSD, BitMEX's XBTUSD, and BitMEX's XBT Index are available)
  

Pricing:
Currently this standalone indicator is 0.007 BTC for lifetime use.

Example of use:
On 4 May 2018, BitMEX's XBTU18 was trading >2% above perpetual swap. The grid alerts signaled that and if one were long on bitcoin spot on any exchange, then it would have been a good idea to hedge a short on XBTU18. Eventually from there the premium gap was closed while bitcoin fell.

Here is the indicator shown with bar coloring and labels.

Sep 29, 2018

Release Notes

- added XBTH19
- removed XBTU18
- simplified inputs

Dec 3, 2020

Release Notes

Added inputs for changing the futures and an option to make the color of CME's grid turn to gray when the market is closed.

Dec 3, 2020

Release Notes

Introduced dynamic labeling for the tickers, allowing for simpler identification.