The goal of this indicator is to detect when Bitcoin is near it's cycle bottom or cycle top using primarily the MVRV Z-score.
Puell Multiple is also a great indicator but doesn't fit as well onto Z-Score thresholds (it's more volatile).
The indicator will flash green when Bitcoin is at cycle lows & red when Bitcoin is at cycle tops.
What is MVRV Z-Score?
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Introducing the ∑ MVRV Z-Score by AlgoAlpha, a dynamic and sophisticated tool designed for traders seeking to gain an edge in INDEX:BTCUSD analysis. This script employs advanced statistical techniques on Bitcoin On-Chain data to offer a deeper understanding of market conditions, focusing on valuation extremes and momentum trends. Let's explore the features...