This script is a volume
counter that stratifies volume
by size (USD): 10K, 1M, 2.5M, 5M, and +10M, and assigns a +1 or -1 value depending on the value of the closing price relative to the opening price. It is intended to be used for Bitmex swaps ( XBTUSD
). Following the direction the block trades can provide a competitive edge with respect to your trades.
Figure 1: Notice a drop in the +10M counter prior to the drop in XBTUSD
price (area plot; yellow)
Figure 2: Bottoms in the +10M counter forecasted rallies in XBTUSD