Cryptocurrency Sentiment

2024년 12월 15일

Overview
This script focuses on calculating and visualizing the sentiment difference between LONG positions and SHORT positions for a selected cryptocurrency pair on the Bitfinex exchange. It provides a clean and clear visual representation of the sentiment, helping traders analyze market behavior.

Key Features

1. Dynamic Symbol Selection:

*The script automatically detects the cryptocurrency symbol from the chart (syminfo.basecurrency) and dynamically constructs the LONGS and SHORTS ticker symbols.*
*Works seamlessly for pairs like BTCUSD, ETHUSD, and others available on Bitfinex.*

1. Sentiment Calculation:

*The sentiment difference is calculated as:*
Sentiment Difference=−1×(100− SHORTS/LONGS ×100)
*LONGS: The total number of long positions.*
*SHORTS: The total number of short positions.*
*If SHORTS is 0, the value is safely skipped to avoid division errors.*

1. Color Coding:

*The script visually highlights the sentiment difference:*
*Green Line: Indicates that LONG positions are dominant (bullish sentiment).*
*Red Line: Indicates that SHORT positions are dominant (bearish sentiment).*

1. Zero Reference Line:

*A gray horizontal line at 0 helps users quickly identify the transition between bullish (above zero) and bearish (below zero) sentiment.*

How It Works

1. Fetching Data:

*The script uses request.security to fetch LONGS and SHORTS data at the current chart timeframe (timeframe.period) for the dynamically generated Bitfinex tickers.*

1. Handling Data:

*Missing or invalid data (NaN) is filtered out to prevent errors.
Extreme spikes or irregular values are safely avoided.*

1. Visualization:

*The sentiment difference is plotted with dynamic color coding:*
*Green when LONGS > SHORTS (bullish sentiment).*
*Red when SHORTS > LONGS (bearish sentiment).*

Benefits
*Market Sentiment Insight: Helps traders quickly identify if the market is leaning towards bullish or bearish sentiment based on actual LONG and SHORT position data.*
*Dynamic and Adaptive: Automatically adjusts to the selected cryptocurrency symbol on the chart.*
*Clean Visualization: Focuses solely on sentiment difference with color-coded signals, making it easy to interpret.*

Best Use Cases
*Trend Confirmation: Use the sentiment difference to confirm trends during bullish or bearish moves.*
*Market Reversals: Identify potential reversals when sentiment shifts from positive (green) to negative (red) or vice versa.*
*Sentiment Monitoring: Monitor the overall market bias for cryptocurrencies like BTC, ETH, XRP, etc., in real-time.*

Sample Chart Output
*Above Zero → Green Line: Bullish sentiment dominates.*
*Below Zero → Red Line: Bearish sentiment dominates.*
*Zero Line → Transition point for shifts in sentiment.*

2024년 12월 15일

릴리즈 노트

Overview
This script focuses on calculating and visualizing the sentiment difference between LONG positions and SHORT positions for a selected cryptocurrency pair on the Bitfinex exchange. It provides a clean and clear visual representation of the sentiment, helping traders analyze market behavior.

Key Features
Dynamic Symbol Selection:
*The script automatically detects the cryptocurrency symbol from the chart (syminfo.basecurrency) and dynamically constructs the LONGS and SHORTS ticker symbols.*
*Works seamlessly for pairs like BTCUSD, ETHUSD, and others available on Bitfinex.*


Sentiment Calculation:
*The sentiment difference is calculated as:*
Sentiment Difference=−1×(100− SHORTS/LONGS ×100)
*LONGS: The total number of long positions.*
*SHORTS: The total number of short positions.*
*If SHORTS is 0, the value is safely skipped to avoid division errors.*

Color Coding:

*The script visually highlights the sentiment difference:*
*Green Line: Indicates that LONG positions are dominant (bullish sentiment).*
*Red Line: Indicates that SHORT positions are dominant (bearish sentiment).*

Zero Reference Line:
*A gray horizontal line at 0 helps users quickly identify the transition between bullish (above zero) and bearish (below zero) sentiment.*

How It Works
Fetching Data:
*The script uses request.security to fetch LONGS and SHORTS data at the current chart timeframe (timeframe.period) for the dynamically generated Bitfinex tickers.*


Handling Data:
*Missing or invalid data (NaN) is filtered out to prevent errors.
Extreme spikes or irregular values are safely avoided.*

Visualization:
*The sentiment difference is plotted with dynamic color coding:*
*Green when LONGS > SHORTS (bullish sentiment).*
*Red when SHORTS > LONGS (bearish sentiment).*

Benefits
*Market Sentiment Insight: Helps traders quickly identify if the market is leaning towards bullish or bearish sentiment based on actual LONG and SHORT position data.*
*Dynamic and Adaptive: Automatically adjusts to the selected cryptocurrency symbol on the chart.*
*Clean Visualization: Focuses solely on sentiment difference with color-coded signals, making it easy to interpret.*

Best Use Cases
*Trend Confirmation: Use the sentiment difference to confirm trends during bullish or bearish moves.*
*Market Reversals: Identify potential reversals when sentiment shifts from positive (green) to negative (red) or vice versa.*
*Sentiment Monitoring: Monitor the overall market bias for cryptocurrencies like BTC, ETH, XRP, etc., in real-time.*

Sample Chart Output
*Above Zero → Green Line: Bullish sentiment dominates.*
*Below Zero → Red Line: Bearish sentiment dominates.*
*Zero Line → Transition point for shifts in sentiment.*