Green = Longs
Red = Shorts
Black = Ratio (Longs:Shorts)*Close <= Close price just for chart normalization!
I hope you find it useful.
NOTE: It isn't a prospective indicator, but try to find out who's bitching the market and when ;p
Working on adding some volume weighted index in here, stay aware!
I updated the script
Now it might be more accurate, since the equation was fixed to actual variables.
#Black like = Open value/2 * Ratio.
This will give directionality to the Ratio, at the same time that weights the interest of the investors on BTC.
You should look for similar L/S Ratio setups to find similar PA on Bitcoin markets.
Hope you find it useful as I do.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
At this time I'm kinda out of the market, that means I'm 50BTC 50USD, waiting for price to take some order upstream or downstream the current point :P
Imo the short's position decline means that a trend is getting exhausted, I think the relative impulssive wave that we experienced may be at the end.
Other ppl sees SHS and 20/50 EMAs Golden Crossing, but I think those patterns have already been seen for like 10th time since the initation of the correction, I don't buy it.