NeoButane

Volume Share - Bitcoin Retail % [cryptorae] [NeoButane edit]

NeoButane 已更新   
This is originally @cryptorae's script with modifications. A great explanation of function can be found on their Twitter.
Original comments:
Follow me @cryptorae on twitter
H/T @AureliusBTC and @cryptom173 for tweaks and assistance


Added three more setups:
  • Correlation oscillator
  • Raw volume
  • Percent change for the two sets of volume ("retail" and "nonretail"), independent of each other

The correlation oscillator shows that inverse/lowering correlation can result in price increasing, acting as if oversold; the same can be said when correlation increases.

"Raw" volume is the volume tickers without changing anything about them.

Percent change is the % difference from the current bar and bar.

Color coded the columns based on percent levels; <15%/<25%/<35%/<39%/<55%/>55%. <46% created too much noise for an indicator. 36% - 38.99% is red to alert possible trend changes in the ratio.

(Overly) summarized use of the original script:
The volume bars up -> Common fiat onramp exchanges have good volume that signal an influx of new investors
The volume bars down -> The majority of volume is on big boy exchanges where retail/new investors aren't likely to be trading

發布通知:
Added Bithumb toggle to make it usable for their current washtrading event. This was the main reason for updating because it was useless otherwise

General script cleanup
Removed the percent/raw volume changes
USD denominated exchanges have had their formula changed from volume / close to volume / hlc3
Added bitFlyer futures exchange as nonretail option for theory
Added toggle for color changes; using raw values to derive information vs. local momentum seems to be a mistake and can cause confusio

My published indicators: www.tradingview.com/u/NeoButane/

Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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