OPEN-SOURCE SCRIPT
NVT Z-Score
NVT Z-Score Script:
Data Source and Calculation: This script calculates the NVT ratio by dividing the market cap (assumed from QUANDL data) by a 90-day MA of the transaction volume (also from QUANDL), similar to the NVTS calculation. However, the adaptation lies in further analyzing the NVT ratio through a Z-score approach, not explicitly described in the original NVTS methodology.
Z-Score Analysis: The script calculates the mean and standard deviation of the NVT ratio over a user-defined period (daysForMean, defaulting to 180 days) and then computes the Z-score of the current NVT ratio relative to this historical data. This Z-score analysis introduces a standardized way of understanding the NVT ratio's deviation from its historical average, offering a nuanced view of market valuation states.
Visualization and Dynamic Zones: The visualization emphasizes Z-score-based dynamic zones (green, yellow, and red), determined by the stdDevMultiplier. These zones are plotted and filled on the chart, providing visual cues for interpreting the NVT ratio's current state in relation to its historical norm. This aspect significantly differs from the traditional NVTS approach by directly incorporating the concept of standard deviation and Z-scores into the analysis.
Data Source and Calculation: This script calculates the NVT ratio by dividing the market cap (assumed from QUANDL data) by a 90-day MA of the transaction volume (also from QUANDL), similar to the NVTS calculation. However, the adaptation lies in further analyzing the NVT ratio through a Z-score approach, not explicitly described in the original NVTS methodology.
Z-Score Analysis: The script calculates the mean and standard deviation of the NVT ratio over a user-defined period (daysForMean, defaulting to 180 days) and then computes the Z-score of the current NVT ratio relative to this historical data. This Z-score analysis introduces a standardized way of understanding the NVT ratio's deviation from its historical average, offering a nuanced view of market valuation states.
Visualization and Dynamic Zones: The visualization emphasizes Z-score-based dynamic zones (green, yellow, and red), determined by the stdDevMultiplier. These zones are plotted and filled on the chart, providing visual cues for interpreting the NVT ratio's current state in relation to its historical norm. This aspect significantly differs from the traditional NVTS approach by directly incorporating the concept of standard deviation and Z-scores into the analysis.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.