OPEN-SOURCE SCRIPT
Bitcoin Growth Rate Z-Score | Astral Vision
Bitcoin Growth Rate Z-Score 🌠💠
Measures the spread between Bitcoin's market capitalization and its realized capitalization, then applies Z-Score normalization to quantify how statistically extreme current market sentiment is relative to its own history.
When the market cap diverges far above realized cap, the network is in aggregate profit and historically approaching distribution territory; when the spread compresses or inverts, it signals deep undervaluation.
Plots 📊
Inputs 🎛️
Colors 🎨
5 Astral Vision presets + custom override. Default: Hermes.
Purpose 🎯
The raw MVRV spread fluctuates on an expanding scale as Bitcoin's market cap grows across cycles, making fixed threshold comparisons unreliable.
Z-Score normalization corrects for this drift, producing readings that are statistically consistent across all market cycles. The Normalized method further removes the USD scale entirely by working with the ratio, making it robust regardless of where BTC price is trading.
Disclaimer ⭕️
This indicator is for informational and educational purposes only. It does not constitute financial advice. Past performance is not indicative of future results. Always do your own research before making investment decisions.
Measures the spread between Bitcoin's market capitalization and its realized capitalization, then applies Z-Score normalization to quantify how statistically extreme current market sentiment is relative to its own history.
When the market cap diverges far above realized cap, the network is in aggregate profit and historically approaching distribution territory; when the spread compresses or inverts, it signals deep undervaluation.
Plots 📊
- Z-Score of the market cap / realized cap spread
- Overbought threshold line
- Oversold threshold line
- Zero midline
- Fill highlight when the oscillator enters extreme zones
- Background color overlay on the price chart when thresholds are breached
Inputs 🎛️
- Method: Normalized (ratio-based spread) or Absolute (raw USD difference)
- Z-Score Lookback: normalization window for mean and standard deviation
- Overbought Threshold: upper extreme level
- Oversold Threshold: lower extreme level
Colors 🎨
5 Astral Vision presets + custom override. Default: Hermes.
Purpose 🎯
The raw MVRV spread fluctuates on an expanding scale as Bitcoin's market cap grows across cycles, making fixed threshold comparisons unreliable.
Z-Score normalization corrects for this drift, producing readings that are statistically consistent across all market cycles. The Normalized method further removes the USD scale entirely by working with the ratio, making it robust regardless of where BTC price is trading.
Disclaimer ⭕️
This indicator is for informational and educational purposes only. It does not constitute financial advice. Past performance is not indicative of future results. Always do your own research before making investment decisions.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
My premium indicators are available on Whop:
whop.com/astralvision
Astral Vision 🌠💠
whop.com/astralvision
Astral Vision 🌠💠
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
My premium indicators are available on Whop:
whop.com/astralvision
Astral Vision 🌠💠
whop.com/astralvision
Astral Vision 🌠💠
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.