This indicator quantifies Bitcoin's valuation risk relative to the merged average Cycle Top Line. It computes a normalised “risk score” that reflects how extended the current price is above or below an inferred macro top equilibrium.

The script generates this score from the composite of high-level cycle indicators, producing a single output that can be monitored over time. Reference bands visually segment the risk zones (e.g., undervalued, neutral, and overvalued), providing traders and investors with an actionable framework to assess whether current market conditions are aligned with historical cycle extremes. The result is a powerful tool for timing macro-level entry and exit points.