OPEN-SOURCE SCRIPT
BTC vs US2000 – Ratio & Spread (BarDai v6 CLEAN)
📌 How the Indicator Works
BTC vs US2000 — Ratio & Spread
The indicator shows:
who is stronger right now — crypto-risk (BTC) or equity-risk (US2000 / Russell-2000)
📈 Top Panel — RATIO + Risk Regime Signals
🎯 Ratio (cyan line)
Measures BTC’s relative strength versus US2000:
📈 Ratio rising → BTC outperforming → Risk-ON environment
📉 Ratio falling → BTC underperforming → Risk-OFF environment
📉 EMA (white line)
A smoothed benchmark.
➡ Key signal — when Ratio crosses the EMA
That marks a shift in the risk regime.
🟩🟥 Background Coloring (Risk Mode)
Condition Regime Meaning Trading Logic
Ratio above EMA 🟩 Risk-ON Capital flows into risk assets Favor BTC longs
Ratio below EMA 🟥 Risk-OFF Capital flows out of risk Prefer shorts / hedge / cash
🧭 SpreadNorm — Bottom Panel
🎯 SpreadNorm shows how strong the deviation is:
🟩 Above 0 → BTC risk premium
🟥 Below 0 → Equity-side risk premium (US2000 stronger)
It helps to:
✔ confirm regime signals
✔ filter false crossovers
✔ measure strength of risk move
(Yellow dots mark extreme deviations → mean-reversion potential)
📌 Trading Usage Guide
Scenario Interpretation Action
Ratio above EMA + SpreadNorm green Stable Risk-ON Look for BTC long entries
Ratio below EMA + SpreadNorm red Stable Risk-OFF Avoid aggressive longs
SpreadNorm extreme + yellow dot Reversal potential Take profit / wait for crossover
📌 Best used on 30–60m timeframes for intraday decision making.
🎁 Final Takeaway
The indicator tracks where risk-capital is flowing.
If BTC outperforms equities → we buy BTC.
If BTC underperforms → we don’t buy (or short it).
BTC vs US2000 — Ratio & Spread
The indicator shows:
who is stronger right now — crypto-risk (BTC) or equity-risk (US2000 / Russell-2000)
📈 Top Panel — RATIO + Risk Regime Signals
🎯 Ratio (cyan line)
Measures BTC’s relative strength versus US2000:
📈 Ratio rising → BTC outperforming → Risk-ON environment
📉 Ratio falling → BTC underperforming → Risk-OFF environment
📉 EMA (white line)
A smoothed benchmark.
➡ Key signal — when Ratio crosses the EMA
That marks a shift in the risk regime.
🟩🟥 Background Coloring (Risk Mode)
Condition Regime Meaning Trading Logic
Ratio above EMA 🟩 Risk-ON Capital flows into risk assets Favor BTC longs
Ratio below EMA 🟥 Risk-OFF Capital flows out of risk Prefer shorts / hedge / cash
🧭 SpreadNorm — Bottom Panel
🎯 SpreadNorm shows how strong the deviation is:
🟩 Above 0 → BTC risk premium
🟥 Below 0 → Equity-side risk premium (US2000 stronger)
It helps to:
✔ confirm regime signals
✔ filter false crossovers
✔ measure strength of risk move
(Yellow dots mark extreme deviations → mean-reversion potential)
📌 Trading Usage Guide
Scenario Interpretation Action
Ratio above EMA + SpreadNorm green Stable Risk-ON Look for BTC long entries
Ratio below EMA + SpreadNorm red Stable Risk-OFF Avoid aggressive longs
SpreadNorm extreme + yellow dot Reversal potential Take profit / wait for crossover
📌 Best used on 30–60m timeframes for intraday decision making.
🎁 Final Takeaway
The indicator tracks where risk-capital is flowing.
If BTC outperforms equities → we buy BTC.
If BTC underperforms → we don’t buy (or short it).
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.