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.

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