Bitcoin Binance Sentiment Index

The divergence of the price between the futures and spot markets for perpetual contracts could be a gauge of sentiment on a traded cryptoasset.

Sentiment analysis could be used to improve the the predictive value of technical and fundamental analysis .

The price of the perpetual contract is divided by the spot price for Bitcoin on Binance and two simple moving averages of this ratio are plotted together. For graphical purposes, the ratio between the two prices has been multiplied by 100. The moving averages were chosen arbitrarily and can be changed. Values above 100 mean that the average price of the futures over the last x periods was above the spot price over the same period. Conversely, values below 100 mean that the mean price of the futures over the last x periods was below the spot price over the same period. The indicator has been created for a daily timeframe .

This indicator is clearly intended for educational purposes only and does not constitute investment advice.

If you are interested in updates on this indicator or interested on sentiment analysis, put a like, subscribe or contact me in pm.

Release Notes: Indicator now match with the timeframe chosen on the mainchart
Release Notes: The source of the data can no be changed. For example you can now set high instead close
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?


Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out