BTC World Price: Multi-Exchange VWAP

The BTC World Price: Multi-Exchange VWAP indicator provides a global aggregate price for Bitcoin by calculating a volume-weighted average across multiple major exchanges and currencies.

Usage

The Usage section describes how this tool can be used to gain a comprehensive overview of the Bitcoin market. Instead of relying on a single exchange's data, which may be subject to local volatility or slippage, this script creates virtual "global candles."

• Primary Visualization: Users should hide the main chart symbol and use the indicator's candles for a cleaner, aggregate view.
• Comparison: It helps identify whether a specific exchange is leading or lagging the global average.
• Source for Indicators: The script outputs various price points (Open, High, Low, Close, HL2, HLC3, OHLC4) that can be used as inputs for other technical indicators like Moving Averages or RSI to base them on global data rather than a single ticker.

Details

The script functions by pulling real-time data from a customizable list of exchanges (e.g., Bitfinex, Binance, bitFlyer, Coinbase, etc.). For each tick and timeframe:

1. It retrieves the OHLC and volume from each selected exchange.
2. It applies a FOREX conversion rate (e.g., JPY/USD, EUR/USD) to normalize all prices into a single base currency (USD).
3. It weights each exchange's price based on its relative trading volume.
4. It returns a final volume-weighted average price (VWAP) in the form of candles.

The calculation also accounts for specific contract differences, such as normalizing Bitmex contract volumes to their BTC equivalent.

Settings

• Candles Type: Choose between "Candles (regular)" or "Heikin Ashi" for the aggregate price display.
• Ticker Exchange/Symbol/Currency: Multiple input groups allow you to define exactly which exchanges and symbols contribute to the global average. By default, it includes major global platforms like Bitfinex, Binance, Coinbase, and Kraken.
• Style Tab (Standard TradingView Settings): Allows users to toggle the visibility of specific price source outputs (Open, High, Low, Close, HL2, etc.) and adjust the color or transparency of the aggregate candles.

FAQ

How can I access BTC World Price: Multi-Exchange VWAP?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Why do my chart candles look different from the indicator candles?

The indicator aggregates data from multiple exchanges simultaneously, whereas your main chart symbol represents only one specific exchange. The indicator provides a more "accurate" global market value.

Can I add or remove exchanges from the calculation?

Yes, you can modify the "Ticker Exchange" and "Ticker Symbol" fields in the Inputs tab to include different trading pairs or disable specific exchanges by clearing their fields.