theheirophant

Blockchain Fundamentals - Satoshies Per Dollar by Cryptorhythms

🔗Blockchain Fundamentals - Satoshis Per Dollar by Cryptorhythms

Intro
SPD is a new metric I propose which can be used to determine general sentiment and help narrow down periods to DCA .

Description
In the most basic sense this indicator is simply showing you how many satoshies are equal to one US dollar . This can be a useful metric to keep stored in the back of your mind. It can also give you a new satoshi based perspective on bitcoin pricing.

I simply added an MA selection option to give a basic sentiment reading. You could also use the red areas as a modified DCA (i.e. only do dollar cost averaging when red zone is in effect.

The indicator is not really meant for buy/sell signaling but more as a reference

👍 We hope you enjoyed this indicator and find it useful! We post free crypto analysis, strategies and indicators regularly. This is our 71st script on Tradingview!

💬Check my Signature for other information

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?