This indicator will tell you whether the security you are looking at is overvalued or undervalued using a company's total assets and their market cap. In theory, a company's total assets is everything that they own, which then should technically be how much the company is worth. Therefore, if the company's market cap is higher than their total assets, the indicator will read "Overvalued by X%". However, if the company's market cap is lower than their total assets, the indicator will read "Undervalued by X%". If you have any questions, feel free to let me know. Keep in mind that this indicator should be only used for long-term investing.
Congrats on the indicator !!! I ask you what in your opinion is the simplest and most practical way to quickly check a list of undervalued and overvalued securities using your indicator. Is there a way to use the tradingview stock screener directly with your indicator or by entering your indicator data into the screener?