The Herrick Payoff Index is designed to show the amount of money flowing into or out of a futures contract.
This indicator uses open interest (from Binance PERP like this BTCUSDTPERP_OI) from during its calculations, therefore, the pairs being analyzed must contain open interest data on Binance.
The indicator only works with USDT pairs! Like RVNUSDT, BTCUSDT... does not work with USD pairs!
The indicator works in two mode.
Index mode - when the values moving 0-100
In this case, if the value below 10, it shows the money is flowing out of the futures contract and near the local bottom. If the value above 90, it shows the money is flowing into the futures contract and near the local top.
(The two trigger can be modified, the default is low:10 and high:90)
Oscillator mode - when the values moving around the origo (0)
In this case, if the value above 0 (green), it shows the money is flowing into the futures contract, this is bullish
If the value below 0 (red), it shows the money is flowing out of the futures contract, this is bearish
This indicator uses open interest (from Binance PERP like this BTCUSDTPERP_OI) from during its calculations, therefore, the pairs being analyzed must contain open interest data on Binance.
The indicator only works with USDT pairs! Like RVNUSDT, BTCUSDT... does not work with USD pairs!
The indicator works in two mode.
Index mode - when the values moving 0-100
In this case, if the value below 10, it shows the money is flowing out of the futures contract and near the local bottom. If the value above 90, it shows the money is flowing into the futures contract and near the local top.
(The two trigger can be modified, the default is low:10 and high:90)
Oscillator mode - when the values moving around the origo (0)
In this case, if the value above 0 (green), it shows the money is flowing into the futures contract, this is bullish
If the value below 0 (red), it shows the money is flowing out of the futures contract, this is bearish
Notes de version:
Some changes:
add: light and dark theme optionally
add: HPI index lookup length to the settings
add: working with PERP pairs too, like this ETCPERP
add: light and dark theme optionally
add: HPI index lookup length to the settings
add: working with PERP pairs too, like this ETCPERP
Notes de version:
*add: 2 lookup length, one in DWM (daily or larger), one in intraday
*change: set the default wma length to 30
*change: symbol using
*change: set the default wma length to 30
*change: symbol using
Notes de version:
*add: Divergence signals by @wuhuoyan, thank you!
The divergence signals can show the regular bull/bear divergence and hidden bull/bear divergence.
*add: Volume bars to the HPI index view, which is green if the HPI value greater than 0 (bullish move) and red if less than 0 (bearish move)
The divergence signals can show the regular bull/bear divergence and hidden bull/bear divergence.
*add: Volume bars to the HPI index view, which is green if the HPI value greater than 0 (bullish move) and red if less than 0 (bearish move)