OPEN-SOURCE SCRIPT

Investor Tool - Z Score

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The Investor Tool is intended as a tool for long term investors, indicating periods where prices are likely approaching cyclical tops or bottoms. The tool uses two simple moving averages of price as the basis for under/overvalued conditions: the 2-year MA (green) and a 5x multiple of the 2-year MA (red).

Price trading below the 2-year MA has historically generated outsized returns, and signalled bear cycle lows.
Price trading above the 2-year MA x5 has been historically signalled bull cycle tops and a zone where investors de-risk.

Just like the Glassnode one, but here on TV and with StDev bands

Now with Z-SCORE calculation:

The Z-Score is calculated to be -3 Z at the bottom bands and 3 Z at the top bands
Pine Script®
mean = (upper_sma + bottom_sma) / 2 bands_range = upper_sma - bottom_sma stdDev = bands_range != 0 ? bands_range / 6 : 0 zScore = stdDev != 0 ? (close - mean) / stdDev : 0


Created for TRW

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