OPEN-SOURCE SCRIPT
TTP Big Whale Explorer
Updated
The Big Whale Explorer is an indicator that looks into the ratio of large wallets deposits vs withdrawals.
Whales tend to sale their holding when they transfer their holdings into exchanges and they tend to hold when they withdraw.
In this overlay indicator you'll be able to see in an oscillator format the moves of large wallets.
The moves above 1.5 turn into red symbolising that they are starting to distribute. This can eventually have an impact in the price by causing anything from a mild pullback to a considerable crash depending on how much is being actually sold into the market.
Moves below 0.5 mean that the large whales are heavily accumulating and withdrawing. During these periods price could still pullback or even crash but eventually the accumulation can take prices to new highs.
Instructions:
1) Load
BTCUSD or BLX to get the most historic data as possible
2) use the daily timeframe
3) load the indicator into the chart
Whales tend to sale their holding when they transfer their holdings into exchanges and they tend to hold when they withdraw.
In this overlay indicator you'll be able to see in an oscillator format the moves of large wallets.
The moves above 1.5 turn into red symbolising that they are starting to distribute. This can eventually have an impact in the price by causing anything from a mild pullback to a considerable crash depending on how much is being actually sold into the market.
Moves below 0.5 mean that the large whales are heavily accumulating and withdrawing. During these periods price could still pullback or even crash but eventually the accumulation can take prices to new highs.
Instructions:
1) Load
BTCUSD or BLX to get the most historic data as possible2) use the daily timeframe
3) load the indicator into the chart
Release Notes
- Support for intraday timeframes (thanks to [R|B]ob for the fix)- Added new toggle to show the source data from into the block (inflows - outflows)
- EMA using 100 length by default and fixed typo
- Line width for ratio and EMA hardcoded to match the way I show it in videos (width == 4)
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thetradingparrot.com
thetradingparrot.com
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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