OPEN-SOURCE SCRIPT
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.
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.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
TheRealMongoose
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
TheRealMongoose
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.