Plots the difference between the Bitcoin Spot price and the average of 7 Futures prices. The idea being that Spot leads the market, and when Spot is priced significantly higher than Futures, price should increase. And vice-versa.
Possible uses:
Sharp changes could indicate a reversal is coming
A consistently large premium can be used as additional validation of trend continuation
Divergences may help identify trend exhaustion
If you find a strategy that works well with this indicator, I'd love to know. Enjoy!
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Changed the "short title" for the indicator and updated the following Perp symbols (some name changes, some exchanges no longer exist):