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BTC On-Chain vs Exchange Volume ratio

This indicator compares on-chain transaction volume in BTC to spot exchange volume also denominated in BTC.

For the on-chain tx volume QUANDL data is used and for the exchange volume an aggregated index is made of some of the top spot exchanges.
Next a percentage ratio is made to give an idea of what type of volume is dominating.

Positive values (green) means on-chain volume is higher than exchange volume.
Negative values (red) means on-chain volume is lower than exchange volume.

These are the exchanges used for the spot index:

Binance USDT
Huobi USDT
Coinbase USD
Bitfinex USD
Bitstamp USD
Kraken USD
Bitflyer JPY
Bithumb KRW
Bittrex USDT
Poloniex USDT

In the settings you can choose to include or exclude certain exchanges.
There's also a smoothed moving average of which you can choose the length.

Because of limitations with the data you can only use this indicator on the daily time frame or higher.