Exchange weighted price for cryptocurrencies

See non-manipulated, globally price action that comes from whole liquidity!

The main idea behind this script is that...

The value of each trading pair finally determined globally and the price displayed in exchanges is its own and not global! differences between exchanges, reduced to near zero gradually by market makers and arbitrages, so..

Every min tick price changes Must be backed by liquidity to be part of the global fluctuations
more liquidity gives it more credibility
more credibility give it more weight
..Against opposing movements.

This script can collect price of crypto pairs from 12 exchanges that listed on TV and have effective volume .

In the first step, summarizes the volume of all exchanges and creates the total volume
In the next step, divide each exchange volume to total volume to obtain relative weight of each exchange.
In the final step, multiply each exchange price to weight of itself and summarizes these numbers.. now, we have Exchange weighted price!

The results on high liquidity pairs like BTCUSDT , ETHUSDT , is not much differ then simple chart but when you apply it on lower liquidity, lower time frames of altcoins, you realize its benefits and usefulness. Altcoins chart in composite and simple mode is very differ, I hope you enjoy from TRUE CHART.

With this, also you can..
  • Filter and smooth candlestick chart with SMA or EMA
  • Plot a line chart of pair at your desired frame separate from the main chart for monitor important price levels
  • Get realtime report of whole volume of pair on included exchanges
  • Get realtime report of each exchange weight and share

some of pairs queted on more than one like BTCUSD , BTCUSDT , BTCUSDC and etc. In this pairs we choose the one that usually has more volume on that exchange.

At this time, supported queted currencies are BTC , ETH, USD, USDT, BUSD, USDC , USDK.

This script is relatively heavy! This is not cuz of bad coding.
Each bar compution contains at least one plot and some of security calls, so 10 to 15 seconds is normal load time.

You can combine this with your price action base scripts and use balanced OHLCV. The necessary explanations about this are available in the code.

You must only include exchanges that support your ticker, Otherwise you will receive an error.

I hope it comes useful to you.
릴리즈 노트: Simple chart of XLMBTC 5min

Composite filtered chart of XLMBTC 5min with 15min close price levels.

I also wanted to say I exaggerated and the load time is about 7 seconds!
릴리즈 노트: Now..
Excluded exchange names will not shown in Report label
릴리즈 노트: New chart type added
  • Siwi candles

In the study of price actions, the shorter wick of a candle is usually much less important, and the long wick contains information about the buying and selling pressure.
In this mode, the amount of shorter wick reduced from larger and the result is pure wick, which is added to the side to which the long wick belonged.
릴리즈 노트: Small improvements
릴리즈 노트: Bugs fixes and improvements
Bugs of report labal on simple mode fixed.

Now.. you can filter simple charts and use script on Markets other than cryptocurrencies
릴리즈 노트: Major Update

Bugs fixes and Improvements
  • Bug of filtered HL Bar fixed
  • Code structure have a big improvement for faster computation
New chart type added
  • Hiekin Ashi chart type added
  • New filter type added, WMA and HMA
릴리즈 노트: Bugs fixes and Improvements

Bugs fixes
  • HL bar and Siwi candle wasn't work correctly with active filter
  • Hollow candle fixed

  • Load time of script reduced to ~2.5s for simple and ~ 5s for composite mode.
릴리즈 노트: Major Update and Upgrade

Unnecessary parts removed for more simplicity and cleanliness
Code structure have big improvements for faster performance and syncing with latest pine updates

Now, you can use many different type of MAs for filtration
New MA types:

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