OPEN-SOURCE SCRIPT
已更新 Coinbase Premium Heatmap
Coinbase Premium Heatmap visualizes spot bitcoin premium (or discount) on Coinbase, relative to other spot markets, visualized as a heatmap overlay.
OPTIMIZED FOR CLARITY
Coinbase Premium can whipsaw quickly, with dramatic state changes over relatively brief periods, unnecessarily complicating its use (for our purposes).
To mitigate whipsaws, the script (a) averages premium/discount on an hourly basis, and (b) introduces lightweight exponential smoothing, to further simplify/clarify state.
WHY IT MATTERS
Spot Coinbase premium is a strong proxy for bullish institutional sentiment and net inflows/accumulation by western financial institutions, ETF providers, and corporations (like MicroStrategy) adding bitcoin to their treasury.
In aggregate, this holder cohort drives trend & sentiment more than any other, so it's important to know their directional bias.
HOW IT'S CALCULATED
Premium / discount calculates the spread between Coinbase spot BTC price, and spot price on Binance + Bybit. Calculation is averaged hourly, with light exponential smoothing.
HOW WE USE THE SCRIPT
When assessing optimal moments to hedge exposure (or sell spot assets) near a presumed impending cycle top, awareness of institutional sentiment is a crucial variable. This script:
(a) Filters out unnecessarily early cycle exit signals (if Coinbase premium is still present)
(b) Confirms other metrics that indicate an impending cycle top (if the neutral to bearish institutional sentiment we'd expect to see is in effect), and
(c) Visualizes state changes (from bearish to bullish & vice versa), that often make for good swing entries & exits on lower timeframes.
OPTIMIZED FOR CLARITY
Coinbase Premium can whipsaw quickly, with dramatic state changes over relatively brief periods, unnecessarily complicating its use (for our purposes).
To mitigate whipsaws, the script (a) averages premium/discount on an hourly basis, and (b) introduces lightweight exponential smoothing, to further simplify/clarify state.
WHY IT MATTERS
Spot Coinbase premium is a strong proxy for bullish institutional sentiment and net inflows/accumulation by western financial institutions, ETF providers, and corporations (like MicroStrategy) adding bitcoin to their treasury.
In aggregate, this holder cohort drives trend & sentiment more than any other, so it's important to know their directional bias.
HOW IT'S CALCULATED
Premium / discount calculates the spread between Coinbase spot BTC price, and spot price on Binance + Bybit. Calculation is averaged hourly, with light exponential smoothing.
HOW WE USE THE SCRIPT
When assessing optimal moments to hedge exposure (or sell spot assets) near a presumed impending cycle top, awareness of institutional sentiment is a crucial variable. This script:
(a) Filters out unnecessarily early cycle exit signals (if Coinbase premium is still present)
(b) Confirms other metrics that indicate an impending cycle top (if the neutral to bearish institutional sentiment we'd expect to see is in effect), and
(c) Visualizes state changes (from bearish to bullish & vice versa), that often make for good swing entries & exits on lower timeframes.
版本注释
Minor update, does not affect output.开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。