SchamBTC

XBT % Contango

Similar to my other indicators, but measures XBTUSD Contango in terms of percent.

Also, built it so you could change the values that give the red and green signals. Default values are 0% or less (backwardation) indicates green. However, i found that a 0.5% setting worked will finding local bottoms for current contract of XBTH20 (March 2020). The upper value default is at 5%, and signals red when the next contract reaches over 5%.

My assumption is as BTC increases in value over time, measuring contango in terms of percent will be a better measure of the XBT futures curve.
Release Notes: Update to add XBTU20 - September Futures
Release Notes: minor updates
Release Notes: Updated to included December futures XBTZ20
Also updated to version 4 pine script

Feel free to reach out to me @SchamBTC on Twitter or Telegram.
If you like my work you can show your support buy sending a donation to the following BTC address: 3CypEdvBcvVHbqzHUt1FDiUG53U7pYWviV
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