Coinbase Premium Index (Any Symbol)

The Coinbase Premium Index provides a valuable insight into market dynamics by calculating the price premium between Coinbase (USD pairs) and Binance (USDT pairs). A positive premium typically indicates heavy buying pressure on Coinbase, often coinciding with upward price trends on lower timeframes. Conversely, a negative premium suggests selling pressure or weaker demand on Coinbase compared to Binance.

**Key Features:**

• **Dynamic Symbol Detection**: Automatically detects the current chart symbol and adapts the premium calculation accordingly.
  
• **Customizable Moving Averages**:
  Select between SMA (Simple Moving Average) or EMA (Exponential Moving Average).
  Adjust the moving average period to suit your trading strategy (default: SMA with 50 periods).
  
• **Error Handling for Missing Data**:
  Displays "Symbol not on Coinbase" when the cryptocurrency is unavailable on Coinbase.
  Plots zero-value columns in light grey for unsupported symbols.
  
• **Visual Representation**:
  
  • Premium values are displayed as columns: green for positive premiums, red for negative premiums.
    
  • A moving average line in light grey helps highlight trends.
    
  • Zero Line: A horizontal dashed line is included as a reference point.
    

**Why Use This Script?**
The Coinbase Premium Index helps traders identify moments of increased buying pressure among U.S. investors, often indicative of bullish momentum on lower timeframes. Use this tool to monitor premium dynamics and gain a clearer understanding of market sentiment across major exchanges.

**How to Use:**

• Add this script to your TradingView chart.
  
• Adjust the moving average type and period through the input menu.
  
• Use the premium columns and moving averages to identify potential price trends and validate exchange-specific trading opportunities.