Calculates an Elastic Volume Weighted Moving Average (EVWMA), incorporating trading volume to dynamically adjust moving average responsiveness over a specified lookback length. It plots directly on the price chart as a single moving average line. Optional colo
Indicator · Pine Script v5 · On the chart
Whale Detector
This indicator highlights bars with unusually high trading activity by comparing current volume against a simple moving average.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code22
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 Detector triggers a detection flag when volume exceeds a user-defined multiple of the average volume and also surpasses an absolute block trade threshold. Signals are displayed as gold crosses above the corresponding bars directly on the main chart, alongside an overlay plot of the average volume line. The lookback period, volume multiplier, and absolute volume threshold can be customized.
- Volume spike detection via moving average multiplier
- Absolute block trade volume threshold filter
- Visual gold cross markers above qualifying price bars
- Average volume line plot on the chart
Details
Published by
scallywag41 on GitHub
Type
Draws
On the price chart
Category
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 |
|---|---|---|---|
| Lookback Period for Average Volume | int | 20 | lookback |
| Volume Spike Multiplier | float | 3.0 | volumeMultiplier |
| Block Trade Threshold (in asset's unit) | int | 1000000 | blockTradeThreshold |
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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