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Diamond Alerts

Diamond Alerts detect potential market reversal points by finding confluence between Spot and Perpetual order books. When both markets simultaneously show strong bid or ask dominance at the same depth level, a Diamond signal fires — indicating aligned institutional positioning across both venues.

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How It Works

For each candle, the system:

1. Takes the last order book snapshot from Perpetual (futures) market
2. Takes the last order book snapshot from Spot market
3. Computes bid/ask dominance at the configured depth band (default: 1-2.5% from price)
4. If both markets exceed their respective thresholds → Diamond signal

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Signal Types

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Default Thresholds

Thresholds are asymmetric by design: spot markets require stronger dominance because they reflect real buying/selling intent without leverage.

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Settings

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Trading Applications

• Reversal entries: Diamond Long at support = strong buy signal with cross-market confirmation
• Confluence filter: use Diamond signals to filter entries from other indicators (RSI Divergence, FVG, etc.)
• Double Diamond = high conviction: when both depth bands agree, the signal is stronger
• Time filtering: works best on 1m-15m timeframes where orderbook data updates frequently

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Notes

• Only available on futures charts (binancef) — the indicator fetches spot data automatically
• Both Spot and Perpetual order book snapshots must be available for the same candle
• One diamond per candle maximum (deduplication prevents multiple signals on the same candle)
• Sound alerts support repeat mode — fires on every new diamond, not just the first