OPEN-SOURCE SCRIPT
CTZ Bitcoin Cycle Master (Modified)
Here's a description written in your own words for the TradingView publish page, with the required credit to the original author since it's a modification of an open-source script:
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CTZ Bitcoin Cycle Master (Modified)
This is a modified version of the open-source Bitcoin Cycle Master by InvestorUnknown, republished under the Mozilla Public License 2.0 with full credit to the original author. The underlying on-chain models are unchanged — this version adjusts how the bands are positioned and adds user control over every line.
WHAT IT DOES
The indicator plots five long-term valuation models on the Bitcoin chart, designed for macro cycle analysis on high timeframes (weekly and monthly recommended, log scale):
Top Cap — a 35x multiple of Average Cap (the cumulative average of price over Bitcoin's lifespan). Acts as the upper boundary for speculative cycle peaks.
Terminal Price — derived from Coin Days Destroyed and normalised by Bitcoin's 21 million supply cap. A supply-adjusted price model historically relevant near cycle tops.
Realized Price — Realized Cap divided by circulating supply. The average on-chain cost basis of all coins, and a key line in bear market bottoms.
CVDD — Cumulative Value Coin Days Destroyed. A historically reliable floor model that has caught major cycle lows.
Balanced Price — Realized Price minus Transferred Price. A deep-value zone that has marked bear market capitulation lows.
WHAT'S DIFFERENT IN THIS VERSION
1. Recalibrated band positioning. Historical cycle behaviour shows diminishing returns — each cycle tops further below the classic upper bands. This version repositions three lines by default: Terminal Price sits 33 percent lower, CVDD 10 percent lower, and Balanced Price 5 percent lower than the original calculations.
2. Per-line offset multipliers. Every model has its own multiplier input, so you can shift any band up or down from the settings panel without touching code. Defaults reflect the recalibration above, but everything is fully adjustable back to the original values (set all multipliers to 1.0).
3. Delta Top removed. Stripped out to reduce chart clutter and focus on the models with the most consistent historical track record.
4. Full colour control. Each line has its own colour picker, so the indicator can be themed to any chart setup.
5. Converted to Pine Script v6.
HOW TO USE IT
Best viewed on INDEX:BTCUSD, weekly or monthly timeframe, logarithmic scale. Price approaching the upper bands (Top Cap, Terminal Price) has historically coincided with late-cycle euphoria and distribution. Price reaching the lower bands (Realized Price, CVDD, Balanced Price) has historically marked deep value and accumulation zones.
Data sources: Coin Metrics realized cap, Glassnode supply and transfer volume, INDEX:BTCUSD price history.
DISCLAIMER
This indicator is for research and educational purposes only and is not financial advice. On-chain models describe historical behaviour and offer no guarantee of future performance.
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Two notes before you publish. TradingView house rules require open-source mods to stay open-source and credit the original, which this description does in the first line — keep the attribution in the code header too. And if this one is staying in the CTZ private collection rather than being published, you can drop the licence paragraph and just use the description from WHAT IT DOES downward.
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CTZ Bitcoin Cycle Master (Modified)
This is a modified version of the open-source Bitcoin Cycle Master by InvestorUnknown, republished under the Mozilla Public License 2.0 with full credit to the original author. The underlying on-chain models are unchanged — this version adjusts how the bands are positioned and adds user control over every line.
WHAT IT DOES
The indicator plots five long-term valuation models on the Bitcoin chart, designed for macro cycle analysis on high timeframes (weekly and monthly recommended, log scale):
Top Cap — a 35x multiple of Average Cap (the cumulative average of price over Bitcoin's lifespan). Acts as the upper boundary for speculative cycle peaks.
Terminal Price — derived from Coin Days Destroyed and normalised by Bitcoin's 21 million supply cap. A supply-adjusted price model historically relevant near cycle tops.
Realized Price — Realized Cap divided by circulating supply. The average on-chain cost basis of all coins, and a key line in bear market bottoms.
CVDD — Cumulative Value Coin Days Destroyed. A historically reliable floor model that has caught major cycle lows.
Balanced Price — Realized Price minus Transferred Price. A deep-value zone that has marked bear market capitulation lows.
WHAT'S DIFFERENT IN THIS VERSION
1. Recalibrated band positioning. Historical cycle behaviour shows diminishing returns — each cycle tops further below the classic upper bands. This version repositions three lines by default: Terminal Price sits 33 percent lower, CVDD 10 percent lower, and Balanced Price 5 percent lower than the original calculations.
2. Per-line offset multipliers. Every model has its own multiplier input, so you can shift any band up or down from the settings panel without touching code. Defaults reflect the recalibration above, but everything is fully adjustable back to the original values (set all multipliers to 1.0).
3. Delta Top removed. Stripped out to reduce chart clutter and focus on the models with the most consistent historical track record.
4. Full colour control. Each line has its own colour picker, so the indicator can be themed to any chart setup.
5. Converted to Pine Script v6.
HOW TO USE IT
Best viewed on INDEX:BTCUSD, weekly or monthly timeframe, logarithmic scale. Price approaching the upper bands (Top Cap, Terminal Price) has historically coincided with late-cycle euphoria and distribution. Price reaching the lower bands (Realized Price, CVDD, Balanced Price) has historically marked deep value and accumulation zones.
Data sources: Coin Metrics realized cap, Glassnode supply and transfer volume, INDEX:BTCUSD price history.
DISCLAIMER
This indicator is for research and educational purposes only and is not financial advice. On-chain models describe historical behaviour and offer no guarantee of future performance.
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Two notes before you publish. TradingView house rules require open-source mods to stay open-source and credit the original, which this description does in the first line — keep the attribution in the code header too. And if this one is staying in the CTZ private collection rather than being published, you can drop the licence paragraph and just use the description from WHAT IT DOES downward.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.