Mongoose Capital: BTC ETF DriftScope Pro

Mongoose Capital: BTC ETF DriftScope Pro

A proprietary indicator for monitoring drift between Bitcoin Spot (BTCUSD) and Bitcoin Spot ETFs (such as IBIT). Designed to detect ETF premium/discount zones and generate actionable Fade or Long bias signals.

What it Does

Tracks IBIT and BTCUSD spread to highlight ETF price deviations.

Calculates correlation Z-Score for ETF/Spot alignment.

Outputs numeric bias signals: Fade (1), Long (1), Neutral (1).

How to Use

Apply to a BTCUSD chart (4H, 1D, or higher recommended).

Open the Data Window to view:

IBIT Spread %

Correlation Z-Score

Correlation %

Bias Flags (Fade, Long, Neutral)

Configure alerts for Fade and Long Bias conditions.

Confirm all signals with your trade plan and risk management.

Methodology
This tool calculates the percentage spread between IBIT and BTC Spot. A rolling Z-Score of the correlation is used to detect periods of significant divergence.

Fade Bias suggests potential short setups in premium zones with high Z-Scores.

Long Bias suggests potential long setups in discount zones with low Z-Scores.

Disclaimer
This indicator is for educational purposes only. It is not financial advice. Use at your own risk and verify signals independently.