MartinShkreIi

BTC Contango Index

Inspired by a Twitter post by Byzantine General:

This is a script that shows the contango between spot and futures prices of Bitcoin to identify overbought and oversold conditions. Contango and backwardation are terms used to define the structure of the forward curve. When a market is in contango, the forward price of a futures contract is higher than the spot price. Conversely, when a market is in backwardation, the forward price of the futures contract is lower than the spot price.

The aggregate prices on top exchanges are taken and then averaged to obtain a Spot Average and a Futures Average. The script then plots ( Futures Average/Spot Average) - 1 to illustrate the percent difference (contango) between spot and futures prices of Bitcoin .

When in contango, Bitcoin may be overbought.
When in backwardation, Bitcoin may be oversold.
Release Notes: Updated to show contango/backwardation in real time — just select your current timeframe in the dropdown menu.
Release Notes: Updated to show contango/backwardation in real time — just select your current timeframe in the dropdown menu.
Release Notes: Updated image
Release Notes: Added an option to show VWAP of the contango line, which can help to filter noise.
Release Notes: Added more markets to aggregate prices from.
Release Notes: Added options in the menu to select which exchanges are included in the calculation. Because of the logic, some exchanges are paired - may find a way to unpair them later.
Remove from Favorite Scripts Add to Favorite Scripts

Comments

Bro, sorry for my ignorance, but which is the oversold side ? Is it the top or the bottom.
I'm not a technical guy and do not understand how to read the script.
Reply
hey bro, is this working ? not loading for me for some reasons.
Reply
@sippin, should be working as expected. Let me know.
Reply
sippin MartinShkreIi
@MartinShkreIi, getting this yellow shadow in the chart without update in contango index, is there any delay in data ? can you explain what it is ?
Reply
Hello
Thanks
you should return a value? of final for ploting and having the deviation value from the futur / spot ?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out