Yes it is one the cost effective way to provide tertiary fiber protection. even you can also use OLP
with your primary OTU for more fiber protection.
When considering SNCP working at electrical layer , you could consider to set following parameters
1. Hold-off Time (100ms)- this parameter is used to avoid repetitive switchovers when services are unstable,
2. WTR Time (s)- Services are switched back to their working paths that have restored to normal only after the WTR time preset for the services elapse
As OLP working at optical layer only-no delay you could set , but you need to set and maintain following parameters
1. Variance Threshold Between Primary and Secondary Input Optical Power (dB)- to generate diffferent maintainance alarm( signal fail (SF), POWER_DIFF_OVER)
Though OLP is cost effective solution for fiber path protection, however, you need to maintain specific power difference between working and protection path.