BTC Bitfinex Perps Premium — Indicator by UnknownUnicorn2188849

Bitfinex dominance relative to an index of the most relevant perpetual swaps.

It compares the price of the Bitfinex BTC/USD market to a volume weighted index of perps.

Positive values (green) means Bitfinex is trading at a premium, which is considered bullish.
Negative values (red) means Bitfinex is trading at a discount, which is considered bearish.

Bitfinex has been considered an exchange of "smart money" for a while.
They're remarkably good at being bullish / bearish at the right time.
When it's trading at a premium compared to perps it's usually a pretty good buy signal.

The indicator is very accurate at turning green when a local bottom is forming.
It's great for confluence and bias and it works on all time frames.
From personal experience I can say the the 4H gives the best results.

The perps included for the index:

Binance USDT
Okex USD
Huobi USD
Bybit USD
Bitmex XBT
FTX USD
Deribit USD
Kraken XBT

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Release Notes:

Increased precision.

Invite-only script

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