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).
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.