- Only for BTC /USD or BTC /USDT
- Time frame 1d or more
- Blue line is of SOPR
- Black line is always 1.00
- Red line is 1 plus user percentage
- Lime line is 1 minus the user percentage
- 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
- When the of SOPR is above the red line there is a high probability of a market top.
- When the 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).
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.