Bitcoin SOPR Heatmap

SOPR (spent output profit ratio) is a metric, provided by Glassnode to measure if most BTC are moved in profit or in loss. The higher SOPR is, the more profits are realized (theoretically) and vice versa.

This indicator shows SOPR visually as a heatmap directly on the Bitcoin chart.

Cold temperatures (blue, purple) show bear markets. Bear market peaks should be visible in dark purple.
Hot temperatues (yellow, red) show bull markets. Hype phases should be visible in red.

I recommend to hide chart when using the indicator. Otherwise you can also enlarge the heatmap in the settings.

The indicator works best on BTCUSD standard charts on daily timeframe. Otherwise you will see an error message.

Release Notes

Code error fixed

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

algoros

We build Bitcoin and crypto algorithms with the intention to outperform.

Check out our website to see more of our work.

Also on:

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.

Protected script

This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.

algoros

We build Bitcoin and crypto algorithms with the intention to outperform.

Check out our website to see more of our work.

Also on: