What is Long/Short Ratio?
Ratio of longs to shorts. account-ratio = the retail crowd, top-trader-ratio = smart money. A crowd heavily long is a contrarian signal (everyone is already in → few buyers left, squeeze risk). ⚡ divergence = crowd and top traders on opposite sides.
Example
Crowd 63% long, top traders 55% long — agreement; if the crowd is 70% long while tops are short, that's a reason to fade the crowd.