OPEN-SOURCE SCRIPT
Updated BTC Thermocap Z-Score
BTC Thermocap Indicator Overview
The BTC Thermocap is a specialized on-chain ratio indicator designed to provide deeper insight into Bitcoin's market valuation relative to its cumulative issuance. By comparing the current market price of Bitcoin to the total value of all BTC ever mined (also known as "thermocap"), this indicator helps identify potential overvaluation or undervaluation periods within the Bitcoin market cycle.
Key Features and Customizable Inputs:
Moving Average Length (MA Length)
Moving Average Type (MA Type) - SMA or EMA
Z-Score Calculation Length
Z-Score Toggle (Use Z-Score)
The BTC Thermocap is a specialized on-chain ratio indicator designed to provide deeper insight into Bitcoin's market valuation relative to its cumulative issuance. By comparing the current market price of Bitcoin to the total value of all BTC ever mined (also known as "thermocap"), this indicator helps identify potential overvaluation or undervaluation periods within the Bitcoin market cycle.
Key Features and Customizable Inputs:
Moving Average Length (MA Length)
Moving Average Type (MA Type) - SMA or EMA
Z-Score Calculation Length
Z-Score Toggle (Use Z-Score)
Release Notes
BTC Thermocap Indicator OverviewThe BTC Thermocap is a specialized on-chain ratio indicator designed to provide deeper insight into Bitcoin's market valuation relative to its cumulative issuance. By comparing the current market price of Bitcoin to the total value of all BTC ever mined (also known as "thermocap"), this indicator helps identify potential overvaluation or undervaluation periods within the Bitcoin market cycle.
Key Features and Customizable Inputs:
Moving Average Length (MA Length)
Moving Average Type (MA Type) - SMA or EMA
Z-Score Calculation Length
Z-Score Toggle (Use Z-Score)
The top is with Z-Score on, the bottom is without a Z-Score
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.