CryptoGraffer

Universal Longs Vs. Shorts - Percentage (Any Symbol)

Hello all my Trading View friends!!

This script allows you to choose ANY symbol and plot the ratio against ANY other symbol, as an indicator on your given pair. It is primarily used as an indicator of longs/shorts as well as shorts/longs as a percentage of total longs + shorts.

For example, you could plot BITFINEX:BTCUSDLONGS against BITFINEX:BTCUSDSHORTS.

It takes the ratio from an absolute 100%, rather than relative to each other. Therefore, each plot has a minimum of 0% and a maximum of 100%. You can choose to view Longs Percentage only, Shorts Percentage only, or Both.

This is useful to see what percentage of total positions are either long or short at any given time interval.

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Open-source script

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.

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Comments

Thank you for the interesting index. Is it posible to use this ration for stocks?
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If you would like the same script plotted as a RATIO (instead of a Percentage), see my other script "Universal Longs Vs. Shorts - Ratio (Any Symbol)"
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