OPEN-SOURCE SCRIPT

PLRR

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The PLRR measures the normalized deviation of price returns from power law growth, with respect to volatility - i.e. the standard deviation of price since the chosen date.

I got this idea from that twitter post in the Ask A channel.
The guy uses a 365 day lookback.

I tried to recreate it. It's not nearly the same, but it doesn't look too bad, so I decided I'd share it.

You can play with the rescaling to perhaps gain better green and red areas. They're set to max/min +-2.5z by default, change them to 3 or something I don't know, whatever tf you want.
Woof.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.