A comparative volume indicator that tracks percentage changes in spot and perpetual futures trading volumes across 12 major exchanges, revealing market dynamics and momentum shifts.
Explore complementary indicator rolesHow it works
The indicator aggregates volume data from 12 major cryptocurrency exchanges, calculating the percentage change in spot and perpetual futures volumes. It fetches trading volumes for a specific cryptocurrency, ensuring data consistency by only including spot volumes with corresponding perpetual volumes.
The percentage change is computed by comparing current volume to the previous bar's volume using the formula: ((Current Volume − Previous Volume) / Previous Volume) × 100. The resulting percentage changes are plotted as blue (spot) and red (perpetual) lines, allowing direct visual comparison of volume momentum across markets
Why it may be useful
This indicator provides crucial insights into cryptocurrency market dynamics by revealing the relative momentum between spot and perpetual futures markets. It helps traders understand which market segment is driving price movements and identify potential trend shifts.
By focusing on percentage changes rather than absolute volumes, the indicator eliminates discrepancies between different exchanges and trading pairs. Traders can use this information to gauge market sentiment, detect potential divergences, and make more informed trading decisions across multiple cryptocurrency exchanges
When to explore it
The indicator is most effective during periods of significant market activity and potential trend changes. It works best for active traders seeking to understand short-term market dynamics across multiple exchanges. Traders should use it when comparing spot and perpetual futures market behaviors, identifying divergences in volume momentum.
It is particularly useful during volatile market conditions, when rapid shifts in trading volume can signal potential price movements. Scalpers and day traders can leverage this tool to make quick, informed decisions based on relative market activity
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
