Whalemap [BigBeluga]

6 Jan

The Whalemap indicator aims to spot big buying and selling activity represented as big orders for a possible bottom or top formation on the chart.

🔶 CALCULATION

The indicator uses volume to spot big volume activity represented as big orders in the market.

Pine Script®

When volume exceeds its own threshold, it is a sign that volume is exceeding its normal value and is considered as a "Whale order" or "Whale activity," which is then plotted on the chart as circles.

🔶 DETAILS



The indicator plots Bubbles on the chart with different sizes indicating the buying or selling activity. The bigger the circle, the more impact it will have on the market.

On each circle is also plotted a line, and its own weight is also determined by the strength of its own circle; the bigger the circle, the bigger the line.



Old buying/selling activity can also be used for future support and resistance to spot interesting areas.

The more price enters old buying/selling activity and starts producing orders of the same direction, it might be an interesting point to take a closer look.

🔶 EXAMPLES





The chart above is showing us price reacting to big orders, finding good bottoms in price and good tops in confluence with old activity.

🔶 SETTINGS

Users will have the options to:

• Filter options to adjust buying and selling sensitivity.
  
• Display/Hide Lines
  
• Display/Hide Bubbles
  
• Choose which orders to display (from smallest to biggest)