OPEN-SOURCE SCRIPT
ETHE Premium Smoothed
This script visualizes the "premium" or "deflection" between the price of Ethereum in a fund (ETHE) and the price of Ethereum itself. It's used to detect when the ETHE fund is trading at a significant premium or discount compared to the actual value of Ethereum it represents.
Components:
Two-Pole Smoothing Function: This function acts as a filter to smoothen data, specifically the calculated deflection. Using a combination of exponential math and trigonometry, the function reduces the noise from the raw deflection data, providing a clearer view of the trend.
ETH Per Share: A constant that represents the amount of Ethereum backing each share of ETHE.
Tickers: The script fetches data for two tickers:
Deflection Calculation: This represents the difference between the price of one share of ETHE and its actual value in Ethereum. This percentage gives an idea of how much more or less the ETHE is trading compared to its intrinsic Ethereum value.
Smoothing: The raw deflection data is then passed through the Two-Pole Smoothing function to produce the "smoothed" deflection curve.
Visuals:
A horizontal dashed red line at 0%, indicating the point where ETHE trades exactly at its intrinsic Ethereum value.
A plot of the smoothed deflection, with its color changing based on whether the value is above or below zero (green for above, red for below).
Usage:
Traders can use this script to identify potential buy or sell opportunities. For instance, if ETHE is trading at a significant discount (a negative deflection value), it might be an attractive buying opportunity, assuming the discrepancy will eventually correct itself. Conversely, if ETHE is trading at a significant premium (a positive deflection value), it might indicate a potential overvaluation.
Components:
Two-Pole Smoothing Function: This function acts as a filter to smoothen data, specifically the calculated deflection. Using a combination of exponential math and trigonometry, the function reduces the noise from the raw deflection data, providing a clearer view of the trend.
ETH Per Share: A constant that represents the amount of Ethereum backing each share of ETHE.
Tickers: The script fetches data for two tickers:
- ETHE ticker from OTC markets.
- Ethereum's ticker from Coinbase.
Deflection Calculation: This represents the difference between the price of one share of ETHE and its actual value in Ethereum. This percentage gives an idea of how much more or less the ETHE is trading compared to its intrinsic Ethereum value.
Smoothing: The raw deflection data is then passed through the Two-Pole Smoothing function to produce the "smoothed" deflection curve.
Visuals:
A horizontal dashed red line at 0%, indicating the point where ETHE trades exactly at its intrinsic Ethereum value.
A plot of the smoothed deflection, with its color changing based on whether the value is above or below zero (green for above, red for below).
Usage:
Traders can use this script to identify potential buy or sell opportunities. For instance, if ETHE is trading at a significant discount (a negative deflection value), it might be an attractive buying opportunity, assuming the discrepancy will eventually correct itself. Conversely, if ETHE is trading at a significant premium (a positive deflection value), it might indicate a potential overvaluation.
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開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。