Explanation of the indicator:
This indicator has built-in alert conditions that you can use to give you email alerts, in-browser sound alerts, or SMS alerts. These alerts are based upon prices being in contango or backwardation.
From top to bottom, the grid shows XBTU18, XBTZ18 , OkEx's Quarterlies (OKCOIN:BTCUSD3M), and CME's .
- Red: are trading above your defined range (default 1%) of spot
- Maroon: are trading above twice your defined range of spot
- Lime: are trading below your defined range (default 1%) of spot
- Green: are trading below twice your defined range of spot
- % to trigger
- Grid size
- Bar color toggle
- Label toggle
- Spot/index source (Bitfinex's BTCUSD , BitMEX's XBTUSD , and BitMEX's XBT Index are available)
Currently this standalone indicator is 0.007 BTC for lifetime use.
Example of use:
On 4 May 2018, BitMEX's XBTU18 was trading >2% above perpetual swap. The grid alerts signaled that and if one were long on bitcoin spot on any exchange, then it would have been a good idea to hedge a short on XBTU18. Eventually from there the premium gap was closed while bitcoin fell.
Here is the indicator shown with bar coloring and labels.
- removed XBTU18
- simplified inputs
BTC - 36GUCF9CAzrtgkXs199NELscFcc8bnchE1
XRP - rf5rHXUAgdUh3YbgaqeW8VWfoRwnTXNN48