[BTC] Exchange Sell Pressure TrackerThis indicator tracks buy and sell pressure across major crypto exchanges (Binance, Coinbase, Bybit, OKX, Kraken, Bitfinex) in a single pane, helping you identify which exchange is driving price moves.
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HOW IT WORKS
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The indicator estimates buy and sell volume on each exchange using the classic bar-range approximation:
• Buy Volume ≈ Volume × (Close − Low) / (High − Low)
• Sell Volume ≈ Volume × (High − Close) / (High − Low)
This is widely used when tick-level data isn't available. It's directionally accurate and effective for comparing relative pressure across exchanges.
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DISPLAY MODES
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Toggle between four views depending on what you're looking for:
1. CVD (Cumulative Volume Delta)
The default mode. Plots a running total of (buy volume − sell volume) per exchange. A rising line means sustained net buying; a falling line means sustained net selling. Compare the slopes: if Binance's CVD drops sharply while Coinbase stays flat, that's a Binance-led selloff.
Note: Binance typically dominates in absolute terms due to its higher volume. Use the other modes below for a normalized comparison.
2. Volume Delta (Per Bar)
Shows the net buy/sell imbalance for each individual bar, without accumulation. Useful for spotting which exchange is driving selling on a specific candle rather than over time.
3. Sell Volume Ratio
Displays sell volume as a percentage of total volume per exchange. The 0.5 (50%) dotted line marks neutral — above it means sellers dominate, below it means buyers dominate. This normalizes for volume differences, making it the best mode for directly comparing sell pressure intensity across exchanges regardless of size.
4. Coinbase Premium
Plots the price difference between Coinbase and Binance (Coinbase − Binance). A positive value means Coinbase is trading at a premium (historically bullish, often interpreted as US institutional demand). A negative value means Binance is leading price down — a common signal during Binance-driven selloffs.
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SUMMARY TABLE
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The top-right table shows a real-time snapshot for the current bar:
• Bar Delta — net buy/sell volume for this bar (green = net buying, red = net selling)
• Sell Ratio — percentage of volume that is sell-side (red if >55%, green if <45%)
• CVD — cumulative volume delta (the running total)
• CB Premium — the current Coinbase-Binance price spread
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BACKGROUND HIGHLIGHTING
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A subtle red background appears when Binance's volume delta is both negative AND more negative than Coinbase's — flagging bars where Binance is leading sells.
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