OPEN-SOURCE SCRIPT
Alpha SOPR Indicator
The indicator SOPR by Glassnode is used. The SMA is also used to smooth the values of the SOPR indicator.
For:
- Only for BTC/USDT or ETH/USDT or LTC/USDT
- Time frame 1d or more
Background:
- If the indicator is above the red line then the red background is displayed
- If the indicator is below the lime line the lime background is displayed
Usage:
- When the SMA of SOPR is above the red line there is a high probability of a market top.
- When the SMA of SOPR is below the lime line, there is a high probability of a market bottom (these are good prices to buy bitcoin for a long-term position)
For:
- Only for BTC/USDT or ETH/USDT or LTC/USDT
- Time frame 1d or more
Background:
- If the indicator is above the red line then the red background is displayed
- If the indicator is below the lime line the lime background is displayed
Usage:
- When the SMA of SOPR is above the red line there is a high probability of a market top.
- When the SMA of SOPR is below the lime line, there is a high probability of a market bottom (these are good prices to buy bitcoin for a long-term position)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.