Perp Imbalance Zones • Pro (clean)

USD Premium (perp vs spot) → (Perp − Spot) / Spot.

Imbalance (z-score of that premium) → how extreme the current premium is relative to its own history over lenPrem bars.

Hysteresis state machine → flips to a SHORT bias when perp-long pressure is extreme; flips to LONG bias when perp-short pressure is extreme. It exits only after the imbalance cools (prevents whipsaw).

Price stretch filter (±σ) → optional Bollinger check so signals only fire when price is already stretched.

HTF confirmation (optional) → require higher-timeframe imbalance to agree with the current-TF bias.

Gradient visuals → line + background tint deepen as |z| grows (more extreme pressure).

What you see on the pane

A single line (z):

Above 0 = perp richer than spot (perp longs pressing).

Below 0 = perp cheaper than spot (perp shorts pressing).

Guides: dotted levels at ±enterZ (entry) and ±exitZ (cool-off/exit).

Background tint:

Red when state = SHORT bias (perp longs heavy).

Blue when state = LONG bias (perp shorts heavy).

Tint intensity scales with |z| (via hotZ).

Labels (optional): prints when bias flips.

Alerts (optional): “Enter SHORT/LONG bias” and “Exit bias”.

How to use it (playbook)

Attach & set symbols

Put the script on your chart.

Set Spot symbol and Perp symbol to the venue you trade (e.g., BINANCE:BTCUSDT + BINANCE:BTCUSDTPERP).

Read the bias

SHORT bias (red background): perp longs over-extended. Look for short entries if price is at resistance, σ-stretched, or your PA system agrees.

LONG bias (blue background): perp shorts over-extended. Look for long entries at support/σ-stretched down.

Entries

Use the bias flip as a context/confirm. Combine with your structure trigger (OB/level sweep, rejection wick, micro-break in market structure, etc.).

If useSigma=true, only trade when price is already ≥ upper band (shorts) or ≤ lower band (longs).

Exits

Bias auto-exits when |z| falls below exitZ.

You can also take profits at your levels or when the line fades back toward 0 while price mean-reverts to the middle band.

Tuning (what each knob does)

enterZ / exitZ (signal strictness + hysteresis)

Higher enterZ → fewer, cleaner signals (e.g., 1.8–2.2).

exitZ should be lower than enterZ (e.g., 0.6–1.0) to prevent flicker.

lenPrem (context window for z)

Larger (50–100) = steadier baseline, fewer signals.

Smaller (20–30) = more reactive, more signals.

smoothLen (EMA on z)

2–3 = snappier; 5–7 = smoother/laggier but cleaner.

useSigma, bbLen, bbK (price-stretch filter)

On filters chop. Try bbLen=100, bbK=1.0–1.5.

Off if you want more frequent signals or you already gate with your own σ/Keltner.

useHTF, htfTF, htfZmin (trend/confirmation)

Turn on to require higher-TF imbalance agreement (e.g., trading 1H → confirm with 4H htfTF=240, htfZmin≈0.6–1.0).

hotZ (visual intensity)

Lower (2.0–2.5) heats up faster; higher (4.0) is more subtle.

Ready-made presets

Conservative swing (fewer, higher-conviction):

enterZ=2.0, exitZ=1.0, lenPrem=60–80, smoothLen=5, useSigma=true, bbK=1.5, useHTF=true (240/0.8).

Balanced intraday (default feel):

enterZ=1.6–1.8, exitZ=0.8–1.0, lenPrem=50, smoothLen=3–4, useSigma=true, bbK=1.0–1.25, useHTF=false/true depending on trendiness.

Aggressive scalping (more signals):

enterZ=1.2–1.4, exitZ=0.6–0.8, lenPrem=20–30, smoothLen=2–3, useSigma=false, useHTF=false.

Practical tips

Don’t trade the line in isolation. Use it to time trades into your levels: VWAP bands, Monday high/low, prior POC/VAH/VAL, order blocks, etc.

Perp-led reversals often snap—be ready to scale out quickly back to mid-bands.

Venue matters. Keep spot & perp from the same exchange family to avoid cross-venue quirks.

Alerts: enable after you’ve tuned thresholds for your timeframe so you only get high-quality pings.