Sentiment analysis could be used to improve the the predictive value of technical and .
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 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 over the last x periods was below the spot price over the same period. The indicator has been created for a .
This indicator is clearly intended for educational purposes only and does not constitute investment advice.
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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.