This overlay indicator marks call and put setups from EMAs, RSI, MACD, and a SPY volume ratio. A call needs higher highs, RSI above its minimum, rising MACD, above-average proxy volume, and a rising trend EMA; a put reverses those tests. Early markers use an E
Indicator · Pine Script v5 · On the chart
Whale Detection with VWAP
This indicator identifies large volume trades occurring near the Volume Weighted Average Price (VWAP).
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code31
Settings3inputs
LicenceNone stated
Last update2 years ago4 Oct 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Whale Detection with VWAP calculates a cumulative VWAP and checks whether the bar's volume meets or exceeds a specified minimum block trade volume. Additionally, it verifies if the closing price falls within a customizable percentage distance from the VWAP. When both high volume and VWAP proximity conditions are satisfied, it plots a red cross above the bar directly on the main price chart to highlight potential institutional activity.
- Block trade volume threshold detection
- Cumulative VWAP calculation
- Percentage proximity filter relative to VWAP
- Visual red cross markers overlay on price chart
Details
Published by
scallywag41 on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Volume, Moving averages, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
File
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Minimum Block Trade Volume | int | 600000 | blockTradeVolume |
| VWAP Length | int | 14 | vwapLength |
| VWAP Proximity Threshold (percentage) | float | 0.005 | proximityThreshold |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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