OPEN-SOURCE SCRIPT
kimchi(korea) premium percent - bithumb btc / binance btc
Updated
This script was created to confirm the fear of kimchi premium in the cryptocurrency market.
The basic operation formula is as follows.
premium(percent) = (BTC KRW - (BTC USDT x USD KRW) / (BTC USDT x USD KRW)) x 100
By calculating the premium, you can check melt up rally.
Looking at the chart, when kimchi's premium reaches 6-8 percent, BTC faces great volatility (mainly downside).
So, a color warning was made for values outside of -2~2%, which is the general kimchi premium (can be changed in settings).
Also, a zero line has been added for readability.
Also, a color change has been added to the ema to see if the value of each market moves in the opposite direction based on the previous candle's closing price. If the two markets move separately, the ema is colored red.
I think this script is a very simple indicator.
It is usually recommended to get value in a large time frame.
Thank you.
The basic operation formula is as follows.
premium(percent) = (BTC KRW - (BTC USDT x USD KRW) / (BTC USDT x USD KRW)) x 100
By calculating the premium, you can check melt up rally.
Looking at the chart, when kimchi's premium reaches 6-8 percent, BTC faces great volatility (mainly downside).
So, a color warning was made for values outside of -2~2%, which is the general kimchi premium (can be changed in settings).
Also, a zero line has been added for readability.
Also, a color change has been added to the ema to see if the value of each market moves in the opposite direction based on the previous candle's closing price. If the two markets move separately, the ema is colored red.
I think this script is a very simple indicator.
It is usually recommended to get value in a large time frame.
Thank you.
Release Notes
Upbit chart is updated in Trading View to change the symbol.Release Notes
- The default color of each section has been changed.
blue: below 0
green: 0~2
red: above 2
- style change
line -> colums
- new function
value table
Release Notes
- Change table location.- Added variables for the interval to find the maximum and minimum
Release Notes
I used binanceus usdt in the calculation, but it looks like there is a problem. If you need it later, you can manage it separately in the input.Release Notes
color input addedOpen-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 publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.