capriole_charles

Bitcoin East vs West

Plots the volume weighted price difference between the top spot exchanges in the "East" (Asian markets) versus the "West" (US/UK/EU markets).

Optional: view the volume difference between the two.
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

East is on top? It seems like it's generally been on east when it's made the major turns. How do you use this indicator for trades?
+1 Reply
@mljones, yes "East" is on top - when the chart is red it means the "East" has relatively higher spot BTCUSD(T) prices.

In the last couple months, it would appear the "East" is leading the Bitcoin price: when the "East" is buying (and the chart goes red) price has often proceeded to rise as the "West" plays catch up (and vice versa).

However, unfortunately this pattern appears mostly random in the longer term. So I don't use it for trading at present. If you are looking for another factor of confluence, this *may* be helpful.

... it will be interesting to see how it plays out into the future!
+4 Reply
mljones capriole_charles
@capriole_charles, it seems like east is most active during the major bubbles and busts but in the center it's more random. This might be useful with things like indicators on the very large trend like this one

+1 Reply
mljones mljones
Also the double bottom on the 25th Nov to 17th Dec might have been marked by the fact that during the 1st bottom west was most active but waiting for east to become active and confirm the bottom on the 17th would have given a great long entry. BTC has a very strong end of year cycle and waiting for confirmation that east is most active would maybe help filter out early signals. Basically the idea being that the top or bottom isn't in until east says so.
+3 Reply
This script does not account for USDT/USD effects. It is crucially important.
Reply
Is this just for BTC or can it work with other coins?
Reply
@Smelgozr, just BTC
Reply
the east exchange is not really in the east ,like okex,huobi,biance...
Reply
@dsaidasi, correct. OKEX is technically not based in Asia now, but is broadly considered to have a dominantly Asian user base.

Huobi is based in Asia.

The exchange / user base world changes rapidly in Crypto, so no doubt this will need revision in the future.
+1 Reply
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