Breakdown & Walkthrough of using the Skew Templates

Firstly make sure you have read this thread on navigating the Bazar:

Read Previous write up first to understand CVDs & other metrics explained there:

Skew Basic


Cumulative Liquidation Delta

Green Box
The sweep into the lows on spot driven COVD variant “Omicron” long liquidation event, prime area of interest for large market players to fill positions into these liquidations because it’s efficient enough for huge size (8–9 figures)

Red Box
Sweep of short positions in offside liquidity hunt leading to shorts being liquidated, Same strategy; large market players fill their hedges or often sell spot into these rallies creating resistance.

Buy vs Sell volume

White box + White arrow = distribution starts
lack of buyers and passive seller absorption

Red arrow = Seller domination picks up quickly (trend change)
Leads to seller climax & capitulation event (long liquidation event)

Green line divergence = Trend change

Green box = Retail shorts get baited into shorting into heavy bids (absorption)

Cumulative Volume Delta (CVDs)

Red arrows = Flat top with Spot supply pressure (Yellow & White line) whereas Perp CVD (Blue line) starts to buy into these sells (absorption) resulting in collapse.

Green arrow = Strong Coinbase spot bid lifting sells persistently. Value migration higher (retest of trend)

Volume Extreme (Filtered Volume)

Green bar = Higher than average buying
Red bar = Higher than average selling
Grey = average volume


Volume trend confirmations with EMAs (1H)
Bullish reversal confirmation with heavy sell + green candle + CVDs migrating higher

Skew Vanilla

Bybit Vanilla

For example:
Basic EMA & Bybit Vanilla

Dual Template Layout

Bybit + coinbase
FTX perp + coinbase
Binance + Binance spot (since they move together)
Deribit + coinbase
Bitfinex Spot + Bitfinex Perp

Bybit Vanilla

Coinbase bids 53K–54K
Coinbase sells 58K

Offside Perp:
Bybit shorts 54K
Bybit chases 58K then gets squeezed on spot selling


Delta line

Mean Reversion divergences
Market defined resistance (in line with spot CVD selling)
Top & bottom divergences

Example of hidden spot CVD & Delta divergences

Coinbase CVD + Delta

Buy vs Sell flow indicator

Example with CVD, Delta & Buy vs sell Divergences at seller climaxes

Example of 4H divergences

Buy vs sell + Delta Divergences

Red arrow = Distributive

Green = Accumulation

All indicator divergences with price

CLD: drying up liquidations (less people to hunt)
Falling volume signals (red or green bars in the direction) — Reversion soon
Delta line confirmations of reversion, strength or weakness in current trend
Signals towards new trend forming

Skew Premium

BTC Market Screener

BTC Perp vs Spot Premiums + Market CVDs

There’s many other Skew Premium Templates but leaking too much alpha. (Check my Twitter I post them occasionally)

BTC Compact

Free Template to try out

Basic & Vanilla Templates will be free every weekend to try out

Find these templates at:



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