Adjusted MVRV Ratio Z-Score

//Z-scores are inverted by default, you are able to change that in settings

Adjusted MVRV Ratio Z-Score
This indicator aims to recreate the Adjusted MVRV Ratio metric available on the CryptoQuant website and display it in standardized values.

The Z-score is calculated based on user-defined standard deviation (SD) and mean settings, with an option to invert the values to cater to both bullish and bearish sentiment analysis.

Users can choose between two methods to calculate the standard deviation used in the Z-score calculation:

• Min/Max Mode: Utilizes predefined SD bands based on extreme values of the metric for consistent scaling.
  In this mode, users can specify the SD Bands Cap to adjust data distribution and the interpretation of outliers.
  
• Lookback Mode: Adapts dynamically to recent data, providing flexibility based on market volatility.
  In this mode, users can define the Lookback Period to calculate the SD and mean of the metric.
  

The indicator also allows plotting a Simple Moving Average (SMA) of the Z-scored metric for additional signal smoothing.