OPEN-SOURCE SCRIPT
MVRV Z Score and MVRV Free Float Z-Score
IMPORTANT: This script needs as much historic data as possible. Please run it on 
BTCUSD, BLX or another chart of sufficient length.
MVRV
The MVRV (Market Value to Realised Value Ratio) simply divides bitcoins market cap by bitcoins realized market cap. This was previously impossible on Tradingview but has now been made possible thanks to Coinmetrics providing us with the realized market cap data.
In the free float version, the free float market cap is used instead of the regular market cap.
Z-Score
The MVRV Z-score divides the difference between Market cap and realized market cap by the historic standard deviation of the market cap.
Historically, this has been insanely accurate at detecting bitcoin tops and bottoms:
A Z-Score above 7 means bitcoin is vastly overpriced and at a local top.
A Z-Score below 0.1 means bitcoin is underpriced and at a local bottom.
In the free float version, the free float market cap is used instead of the regular market cap.
The Z-Score, also known as the standard score is hugely popular in a wide range of mathematical and statistical fields and is usually used to measure the number of standard deviations by which the value of a raw score is above or below the mean value of what is being observed or measured.
Credits
MVRV Z Score initially created by aweandwonder
MVRV initially created by Murad Mahmudov and David Puell
BTCUSD, BLX or another chart of sufficient length.MVRV
The MVRV (Market Value to Realised Value Ratio) simply divides bitcoins market cap by bitcoins realized market cap. This was previously impossible on Tradingview but has now been made possible thanks to Coinmetrics providing us with the realized market cap data.
In the free float version, the free float market cap is used instead of the regular market cap.
Z-Score
The MVRV Z-score divides the difference between Market cap and realized market cap by the historic standard deviation of the market cap.
Historically, this has been insanely accurate at detecting bitcoin tops and bottoms:
A Z-Score above 7 means bitcoin is vastly overpriced and at a local top.
A Z-Score below 0.1 means bitcoin is underpriced and at a local bottom.
In the free float version, the free float market cap is used instead of the regular market cap.
The Z-Score, also known as the standard score is hugely popular in a wide range of mathematical and statistical fields and is usually used to measure the number of standard deviations by which the value of a raw score is above or below the mean value of what is being observed or measured.
Credits
MVRV Z Score initially created by aweandwonder
MVRV initially created by Murad Mahmudov and David Puell
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.