Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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The purpose of this indicator is to detect when whales are around and draw a vertical line on hourly chart. But how do we detect them? By analyzing behavior. Usually whales scale in/out of positions a few days in a row and they also trade at the same time every day, because they are whales and don't care, they can move then market whenever they want.
Based on the above assumptions, this indicator checks:
1. hourly volume, it has to be 3 x the MA(volume) for last 14 days (of course 3 and 14 are configurable in settings and need to be tuned individually for each pair) 2. the same hour of the day (10am UTC) for the past 3 days looking for #1 condition.
We can easily see on chart that a whale was present at 10am UTC for two days in a row, they went short yesterday and long today (May 6th). Also, we can zoom out and see the same whale traded at 10am many times in the past.
Can't wait for 10am tomorrow and watch out, whales are around :)
Notes de version
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- rename input fields to be self-explanatory - add a few comments
Notes de version
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Changes to make the indicator work on 4h timeframe and more configurable, you can customize magnitude of volume spike and MA length for both 1h and 4h.
We can easily see in the chart below that a whale did hit on 11/30 (in red), 12/02 (in blue) and last 12/03 (in black) at 16:00 UTC then market started to crash.
Hi. How can you tell on your indicator that the whale longed today and shorted yesterday?
icostan
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@dotchcrypto, we don't know that information since the indicator is based on cumulative volume (both long and short volume) but we can easily assume based on color of the bar. if bar was red then most of the volume was short volume and bears won the battle.
Kokiamoun213
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hey , icostan after trying the alerts , they are only show the grey line even if you change the values for the line always same can you please fix it
Kokiamoun213
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will alerts show all the 4 different colours if i chose value = first hit or only one specific colour ? and if only one colour how can it give me 4 line in just one alert ?
icostan
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@Kokiamoun213, only that specific color (hit), it can't be done with a single alert you have add 4 alerts, one for each color.
Kokiamoun213
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@icostan, is this possible to do an alert update one alert gives 4 lines alert
Kokiamoun213
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can you please apply alerts on this lines cause iam always late to see them
icostan
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@Kokiamoun213, yes, you can, press "Create alert" button, in "Condition" drop-downs select "Whale alert" indicator, then "First hit", "Greater Than" and set value to "0" (or whatever volume you want to alert on).
Kokiamoun213
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@icostan, is this will show all the different colors of the lines or one specific color ?