Will update
Comment: Volatility is divided by the spread between longs and shorts. This creates a defined function in areas of defined volatility and market position.

The BVOL24H variable is:

Stdev(Ln(P1/P0), Ln(P2/P1)... where Ln is the natural log (base e) of (price @ minute 2) divided by (price @ minute 1).

When volatility is high (returns have a higher variance):

(a) the function (blue) will be higher in areas where the market is net long, (indicated by the long-short spread). This could possibly be used to indicate bottom reversal points, as bottoms tend to have high volatility and a shifting of the market to become net long.

(b) the function will be lower when the market is net short and when volatility slows.

This is just another picture of the market and in no way is intended to be an indicator or trading advice.
Comment: Currently, the function is quite low, at a level that is mostly present around tops or in extended down tends.

For whatever reason, BVOL24H/(BTCUSDLONGS/BTCUSDSHORTS) is very high just now. Volatility is back and I suspect a short squeeze may occur pushing past the recent highs. This is just speculation and still trying to figure out if anything can be interpreted from this.
This fractal predicted two daily candle. Tomorrow should be red "IF the fractal plays out" and then we will have a relief rally.
+2 Reply
@cI8DH,   nice, I also feel like this will be a possibility
+1 Reply
would like to test this indicator out. Looks interesting
+1 Reply
Conchobhair MarketAnalyzer98
@MarketAnalyzer98, Maybe one day I'll make it into an actual indicator.
+1 Reply
Conchobhair MarketAnalyzer98
+1 Reply
cool stuff mate. I gave you access to this indicator. It will show you when price diverges from shorts and longs.
+3 Reply
@cI8DH, thanks again ;)
+1 Reply
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