Valuation Metric

Valuation Metric Indicator
The Valuation Metric Indicator provides a comprehensive tool for evaluating price dynamics in relation to a moving average and standard deviation. It combines the power of statistical analysis with clear visualizations to help traders assess market valuation levels and potential overbought or oversold conditions.

Key Features:
Z-Score Calculation:

Displays the Z-score of the price relative to the moving average, normalized by standard deviation.
Z-score is clamped within the range of -3 to +3 to focus on significant deviations.
Standard Deviation Bands:

Plots bands at 1x, 2x, and 3x standard deviations above and below the moving average.
Helps identify areas of extreme overvaluation or undervaluation.
Dynamic Valuation Table:

Displays the current Z-score and provides a textual assessment of the market's valuation:
Overvalued
Slightly Overvalued
Neutral
Slightly Undervalued
Undervalued
Background color dynamically changes based on the valuation.
Customizable Background Signals:

Optional background highlighting for "Top Signal" (overvaluation) and "Bottom Signal" (undervaluation).

Configurable Display:
Users can toggle the visibility of standard deviation bands and background signals to fit their preferences.

Color-Coded Visualization:
Uses gradient-based color coding for Z-scores and standard deviation bands, improving readability and decision-making.