Indicator Overview

The indicator is an on-chain equivalent that simulates tracking the net change in the asset’s supply held by Short-Term Holders (STHs) over the preceding 30-day period. STHs are defined as investors holding the asset last moved less than 155 days ago. We simulate this using a 155D rolling VWAP. This change is effectively a measure of the 30-day inflow/outflow of speculative capital to/from the asset.

Positive values (Green): Mean STHs are accumulating (buying more of the asset than they are selling).

Negative values (Red): Mean STHs are net distributing (selling more than they are buying).

Dual-Ticker Comparison Logic

The Ticker fields allow you to transition from absolute price analysis to relative strength analysis:

• Single Stock Analysis: If Ticker 2 is left blank, the indicator defaults to measuring Ticker 1against US Dollars. This allows you to analyse the asset's individual performance.

• Pair Trading & Ratios: Enter a symbol in both fields (e.g. NVDA vs. TSLA) to analyse the relationship between the two. The indicator automatically calculates the ratio (Ticker 1 / Ticker 2), helping you identify when one asset is becoming "expensive" or "cheap" relative to its peer, independent of broader market direction.

How To Use

The 30-Day STH Net Position Change is used to identify periods of aggressive accumulation or distribution by the market's most reactive participants. Large, sustained negative readings (deep red, strong net selling by STHs) often coincide with market bottoms and capitulation events, as fearful investors sell their positions to Long-Term Holders.

Large, sustained positive readings (bright green, strong net buying by STHs) can signal bullish price momentum but also warn of a potential local top if the buying becomes excessive, as speculative supply is rapidly increasing.