ETHBTC Z-Score

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ETHBTC Z-Score Indicator
Key Features
Z-Score Calculation: Measures how far ETHBTC deviates from its mean over a user-defined period.

Linear Regression Line: Tracks the trend of the Z-score using least squares regression.

Standard Deviation Bands: Plots ±N standard deviations around the regression line to show expected Z-score range.

Dynamic Thresholds: Highlights overbought (e.g. Z > 1) and oversold (e.g. Z < -2) zones using color and background fill.

Visual & Table Display: Color-coded bars, horizontal level fills, and optional table showing regression formula and R².

Usage
Spot overbought/oversold extremes when Z-score crosses defined thresholds.

Use the regression line as a dynamic baseline and its bands as range boundaries.

Monitor R² to gauge how well the regression line fits the recent Z-score trend.

Example
Z > 1: ETHBTC may be overbought — potential caution or mean-reversion.

Z < -2: ETHBTC may be oversold — possible buying opportunity.

Z near regression line: Price is in line with recent trend.

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Phát hành các Ghi chú

Updated to work on chart's timeframe