BTC Supply in Profits and Losses (BTCSPL) [AlgoAlpha]

Description:
🚨The BTC Supply in Profits and Losses (BTCSPL) indicator, developed by AlgoAlpha, offers traders insights into the distribution of BTCUSD addresses between profits and losses based on BTCUSD on-chain data.

Features:

🔶Alpha Decay Adjustment: The indicator provides the option to adjust the data against Alpha Decay, this compensates for the reduction in clarity of the signal over time.


🔶Rolling Change Display: The indicator enables the display of the rolling change in the distribution of Bitcoin addresses between profits and losses, aiding in identifying shifts in market sentiment.


🔶BTCSPL Value Score: The indicator optionally displays a value score ranging from -1 to 1, traders can use this to carry out strategic dollar cost averaging and reverse dollar cost averaging based on the implied value of bitcoin.


🔶Reversal Signals: The indicator gives long-term reversal signals denoted as "▲" and "▼" for the price of bitcoin based on oversold and overbought conditions of the BTCSPL.


🔶Moving Average Visualization: Traders can choose to display a moving average line, allowing for better trend identification.

How to Use ☝️ (summary):

• Alpha Decay Adjustment: Toggle this option to enable or disable Alpha Decay adjustment for a normalized representation of the data.
  
• Moving Average: Toggle this option to show or hide the moving average line, helping traders identify trends.
  
• Short-Term Trend: Enable this option to display the short-term trend based on the Aroon indicator.
  
• Rolling Change: Choose this option to visualize the rolling change in the distribution between profits and losses.
  
• BTCSPL Value Score: Activate this option to show the BTCSPL value score, ranging from -1 to 1, 1 implies that bitcoin is extremely cheap(buy) and -1 implies bitcoin is extremely expensive(sell).
  
• Reversal Signals: Gives binary buy and sell signals for the long term