OPEN-SOURCE SCRIPT
VaRz BTC/Gold Risk Meter
VaRz Risk Meter (BTC vs Risk-On & Gold Safe-Haven Proxy)
The VaRz Risk Meter is a macro sentiment oscillator designed to measure Bitcoin’s relative strength and directional bias using key risk-appetite and safe-haven flows.
Indicator Components
VIX → Market fear & volatility benchmark
NASDAQ 100 (NDX) → Primary risk-on proxy (growth/tech capital flow)
Gold (XAUUSD) → Safe-haven strength alternative to USD index
Bitcoin (BTCUSDT) → Used only for normalization reference, not bias calculation
Core Logic
All assets are normalized on a 0–100 scale using a 100-period rolling window to create a balanced comparison across markets.
The Bitcoin Macro Bias Histogram is calculated as:
NASDAQ strength − VIX fear − Gold safe-haven strength
This produces a macro directional regime for Bitcoin:
Market Regimes Interpretation
Indicator State Meaning for BTC
NASDAQ high + VIX low + Gold weak Risk-On environment → Bullish for Bitcoin
Gold strong + VIX rising + NASDAQ weak Risk-Off / flight to safety → Bearish pressure on BTC
All assets near 50 with no trend Neutral / Sideways → Macro indecision
How to Use
This is not a direct entry signal, but a macro bias filter
Best combined with:
Market Structure, Liquidity zones, Orderflow, Volume analysis, and Elliott Wave context
Bias becomes more reliable on higher timeframes (1W, 1M) but works on any chart
Key Insight
Bitcoin behaves as a hybrid risk asset. This indicator helps track when capital is:
Rotating into risk markets (favorable for BTC)
or
Seeking protection in gold and volatility hedges (unfavorable for BTC)
The histogram visually maps these shifts to give traders a clear macro regime awareness in one window.
The VaRz Risk Meter is a macro sentiment oscillator designed to measure Bitcoin’s relative strength and directional bias using key risk-appetite and safe-haven flows.
Indicator Components
VIX → Market fear & volatility benchmark
NASDAQ 100 (NDX) → Primary risk-on proxy (growth/tech capital flow)
Gold (XAUUSD) → Safe-haven strength alternative to USD index
Bitcoin (BTCUSDT) → Used only for normalization reference, not bias calculation
Core Logic
All assets are normalized on a 0–100 scale using a 100-period rolling window to create a balanced comparison across markets.
The Bitcoin Macro Bias Histogram is calculated as:
NASDAQ strength − VIX fear − Gold safe-haven strength
This produces a macro directional regime for Bitcoin:
Market Regimes Interpretation
Indicator State Meaning for BTC
NASDAQ high + VIX low + Gold weak Risk-On environment → Bullish for Bitcoin
Gold strong + VIX rising + NASDAQ weak Risk-Off / flight to safety → Bearish pressure on BTC
All assets near 50 with no trend Neutral / Sideways → Macro indecision
How to Use
This is not a direct entry signal, but a macro bias filter
Best combined with:
Market Structure, Liquidity zones, Orderflow, Volume analysis, and Elliott Wave context
Bias becomes more reliable on higher timeframes (1W, 1M) but works on any chart
Key Insight
Bitcoin behaves as a hybrid risk asset. This indicator helps track when capital is:
Rotating into risk markets (favorable for BTC)
or
Seeking protection in gold and volatility hedges (unfavorable for BTC)
The histogram visually maps these shifts to give traders a clear macro regime awareness in one window.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.