Coinbase Premium Index (Custom Tickers)

📊 Coinbase Premium Index (Auto Symbol Support)


1. Overview

The Coinbase Premium Index is a widely used indicator to gauge the sentiment difference between US institutional investors (Coinbase Pro) and global retail/futures traders (Binance).

This script calculates the percentage difference between the Coinbase (USD pair) price and the Binance (USDT pair) price.



2. Key Features

🔄 Auto Symbol Matching (New): You no longer need to manually change tickers when switching charts.
If you are looking at a SOL/USDT chart, the indicator automatically detects "SOL" and compares COINBASE:SOLUSD vs BINANCE:SOLUSDT.

🛠 Manual Mode: Includes a manual override option if you wish to compare specific fixed tickers (e.g., strictly BTC).

🎨 Dynamic Visuals:
Histogram: Color-coded bars (Green/Red) indicate positive or negative premiums.

Smart Label: Displays the real-time premium value on the chart. The label color adapts to the trend, and hovering over it shows a Tooltip confirming exactly which tickers are being compared.



3. How to Interpret

The premium indicates the flow of funds and buying pressure:

🟢 Positive Premium (Green Bar):
Coinbase Price > Binance Price

Interpretation: Strong buying pressure from US institutions or spot whales. Often considered a Bullish signal.

🔴 Negative Premium (Red Bar):
Coinbase Price < Binance Price

Interpretation: Strong selling from US investors, or overheated buying in the offshore futures market (Binance). Often considered a Bearish or mean-reversion signal.



4. Settings Guide

Ticker Mode:
Auto (Current Chart): Automatically sets the comparison based on your current chart's base currency (Recommended).

Manual (Custom): Uses the specific tickers defined in the manual input fields below.

Manual Inputs: Enter tickers here if using Manual Mode (Default: COINBASE:BTCUSD vs BINANCE:BTCUSDT).

Bar & Label Settings: Customize colors, transparency, and the vertical position (Y-Offset) of the data label to fit your chart layout.