This indicator displays Longs vs Shorts in a side by side graph, shows volume's absolute price value and normalized of Longs/Shorts for the current asset. This allows for more accurate L/S comparisons (like a log scale for ) since on spot exchanges ( , Bitfinex, Coinbase etc) is measured in coins traded, not USD traded. Similarly, L/S is usually the amount of coins in open L/S positions, not their total USD value. On Bitmex and other exchanges is measured in USD traded, so you don't need to apply the Absolute Price Value checkbox to compare L/S. You should always check first whether your source is measured in coins or USD.
Chiki-Poki BFXLS primarily uses *SHORTS/LONGS feeds from Bitfinex for the current crypto asset, but you can specify custom L/S source tickers instead.
This 2-in-1 works both in the Main Chart and in the indicator pane below. You can switch between Main/Sub Window panes using RMB on the indicator's name and selecting Move To/Pane Above/Below.
This indicator doesn't use of the current asset. It uses L/S ticker's OHLC as a source for SHORTS/LONGS volumes instead. Essentially L/S => L/S == L/S
- Display Longs vs Shorts side by side graph for the current crypto asset, i.e. for BTCUSD - BTCUSDLONGS / BTCUSDSHORTS , for ETHUSD - ETHUSDLONGS / ETHUSDSHORTS etc.
- Use custom OHLC ticker sources for Longs/Shorts from different exchanges/crypto assets with/without exchange prefix.
- Plot Longs/Shorts as lines or candles
- Show/Hide L/S, Diff, MAs, ATH / ATL
- Use Longs/Shorts Absolute Price Value (Price * L/S ) instead of Coins Traded in open L/S positions to compare total L/S value/capitalization
- Normalize L/S using Price / Price MA / L/S MA
- Supports any existing type of MA: , , , etc
- Absolute Price Value / Normalize also works on candles
- Oscillator mode with negative axis (works in both Main Chart/Subwindow panes).
- Highlight L/S spikes above L/S MAs in both lines/oscillator.
- Change L/S MA color based on a number of last rising/falling L/S bars, colorize candles
- Display L/S as 1000s, mlns, or blns using alpha multiplier
1. based on BFXLS Longs vs Shorts and Compare Style, uses plot*, security and custom functions
2. swma has a fixed length = 4, and linreg have additional offset and smoothing params
- Make sure that Left Price Scale shows up with Auto Fit Data enabled. You can reattach indicator to a different scale in Style.
- It is not recommended to switch modes multiple times due to TradingView's scale reattachment bugs. You should switch between Main Chart and Sub Window only once.
- When the USD price of an asset is lower you can trade more coins but capitalization value won't be as significant as when there are less coins for a higher price. Same goes for Shorts/Longs.
Current ATH in shorts doesn't trigger a squeeze because its total value is now far less than before and we are in a bear market where it's normal to have a higher number of shorts.
- You should always subtract Hedged L/S from L/S because hedged positions are temporary - used to preserve the value of the main position in the opposite direction and should be disregarded as such.
- Low margin rates increase the probability of a move in an underlying direction because it is cheaper. High margin rates => the market is anticipating a move in this direction, thus a more expensive rate. Sudden 5-10x rate raises imply a possible reversal soon. high - 0.1%, avg - 0.01-0.02%, low - 0.001-0.005%
You can also check out:
- BFXLS Longs/Shorts on BFXData
- Bitfinex L/S margin rates and Hedged L/S on datamish
- Bitmex L/S on Coinfarm.online
- Longs/Shorts Ratio/Inversed Ratio options with full intraday support (free accounts are limited to D1+ L/S ratios only, this script does not have such limitation)
- Custom price ticker option. You can use any ext OHLC price source instead of the current symbol's price, essentially completely ignoring the underlying chart data.
- , meta variables for custom tickers. Now you can swap sources between all custom tickers. - current symbol's price, or "" - default ticker value.
For example, you can open BTCUSDSHORTS chart instead of BTCUSD, assign a shorts ticker: (to use current price as a source for shorts), and price ticker: BTCUSD (use external price source).
- Normalized/Abs Price Value indicator Labels
- Changed some titles
- typing BTCUSDSHORTS * BTCUSD in the ticker field of the main chart will get you the same result as Abs Price Value option of this script
- typing BTCUSDLONGS - BTCUSDSHORTS is the same as showing L/S Diff in this script
- typing BTCUSDSHORTS / BTCUSDLONGS will get you S/L ratio (free accounts are limited to TFs >= D1 only).
- you can't use SMA/EMA in the ticker field to manually normalize current symbol this way
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.