Shows the ratio of longs to shorts. Above 1.0 means more longs. Below 1.0 means more shorts. A value of 1.0 means equilibrium.
Following Preston Pysh's "Bitcoin Mayer Multiple" study, I made this simple script to plot the recommended buy price based on the calculated 2.4x ratio between bitcoin price and its 200-day moving average. The ratio and SMA length have default values of 2.4 and 200 and can be adjusted.