OPEN-SOURCE SCRIPT
Coinbase Premium(/binance)
Script Overview
This indicator is designed to measure the price gap (premium) between Coinbase (BTC/USD) and Binance (BTC/USDT). Since Coinbase is often viewed as a proxy for institutional demand in the US, this "premium" helps traders identify whether buying pressure is coming from US-based institutions or global retail markets.
Key Components & Logic
1. Data Integration (Multi-Exchange)
The script uses the request.security() function, which is the standard in Pine Script v5 for fetching data from different symbols or exchanges:
Binance BTCUSDT: Represents the global retail market price.
Coinbase BTCUSD: Represents the US institutional market price.
Bitfinex USTUSD: Used as a "Stablecoin Peg" adjustment to ensure the comparison between USD and USDT is mathematically accurate.
2. Calculation Logic
Price Normalization: It multiplies the Binance BTC price by the USDT/USD exchange rate (binance_btc * usdt_peg). This ensures we are comparing "apples to apples" (USD vs. USD).
Premium Calculation: * USD Difference: Simply subtracts the adjusted Binance price from the Coinbase price.
Percentage (%) Premium: Calculates the percentage gap. Following your original code's logic, it uses the 2-bar delay ([2]) to smooth out minor data lag or specific historical points.
3. Visual Elements (UI)
The script is optimized for Dark Mode users with a "White" theme:
Histogram (Percent): Displays the percentage premium. A value above 0 indicates Coinbase is more expensive than Binance (Bullish signal for US demand).
Columns (USD): Shows the raw dollar difference with slight transparency (60%) to keep the chart clean.
Zero Line: A solid white line at the 0 level to clearly distinguish between a "Premium" (positive) and a "Discount" (negative).
This indicator is designed to measure the price gap (premium) between Coinbase (BTC/USD) and Binance (BTC/USDT). Since Coinbase is often viewed as a proxy for institutional demand in the US, this "premium" helps traders identify whether buying pressure is coming from US-based institutions or global retail markets.
Key Components & Logic
1. Data Integration (Multi-Exchange)
The script uses the request.security() function, which is the standard in Pine Script v5 for fetching data from different symbols or exchanges:
Binance BTCUSDT: Represents the global retail market price.
Coinbase BTCUSD: Represents the US institutional market price.
Bitfinex USTUSD: Used as a "Stablecoin Peg" adjustment to ensure the comparison between USD and USDT is mathematically accurate.
2. Calculation Logic
Price Normalization: It multiplies the Binance BTC price by the USDT/USD exchange rate (binance_btc * usdt_peg). This ensures we are comparing "apples to apples" (USD vs. USD).
Premium Calculation: * USD Difference: Simply subtracts the adjusted Binance price from the Coinbase price.
Percentage (%) Premium: Calculates the percentage gap. Following your original code's logic, it uses the 2-bar delay ([2]) to smooth out minor data lag or specific historical points.
3. Visual Elements (UI)
The script is optimized for Dark Mode users with a "White" theme:
Histogram (Percent): Displays the percentage premium. A value above 0 indicates Coinbase is more expensive than Binance (Bullish signal for US demand).
Columns (USD): Shows the raw dollar difference with slight transparency (60%) to keep the chart clean.
Zero Line: A solid white line at the 0 level to clearly distinguish between a "Premium" (positive) and a "Discount" (negative).
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.