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.
Notes de version
⋅
Upbit chart is updated in Trading View to change the symbol.
Notes de version
⋅
- 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
Notes de version
⋅
- Change table location. - Added variables for the interval to find the maximum and minimum
Notes de version
⋅
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.
Hi sir! why when blue colums are -0 (blue), normally the bitcoin price falls? thanks !! you are a master.
Quu
⋅
@kyokushin96, Hi, the price has usually fallen. (with a large frame) but... rather than pinpointing the rise and fall, the focus is on the overheating of the market.