3. Technical trading (charting)

Read the ratio, not the legs: technical analysis applied to the spread between two assets.

Relative value has its own chart: the ratio between your two legs. Instead of reading BTC and ETH separately, you read BTC/ETH as one line, and the whole technical toolkit (support/resistance, trend, mean-reversion) applies to it.

The tools on Orchard

Ratio chart: the single line that matters; every technical pattern applies to it directly.
Agent Stats panel: the analytics that tell you whether the spread is behaving: a rolling z-score with ±2σ bands (how stretched the spread is versus its own recent history), correlation (is the relationship holding?), and the hedge ratio (how to size the legs so the spread is clean, not lopsided).
Chart window: pick 1H/4H/1D to match your horizon.

Two ways to play it

Mean-reversion: fade the spread when the z-score tags ±2σ and target the mean.
Momentum: play breakouts in relative strength when one side decisively pulls away.

How to trade it on Orchard

Pull up a pair and set your chart window.
Read the setup from the ratio and the Agent Stats panel.
Choose the order type that fits: Market, Trigger (enter when price or the ratio crosses a level), TWAP for size, or Ladder to scale in.
Set take-profit / stop-loss (TP/SL) on the ratio itself. The position closes on the relationship, not on either leg alone.

Orders opened via Trigger, TWAP, or Ladder do not carry a TP/SL bracket. Arm your protection after the position fills. See Order types.

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