L1 Whale Tracker Radar v1

19 Sep 2020

Level: 1

Background
One of the biggest differences between cryptocurrency and traditional financial markets is that cryptocurrency is based on blockchain technology. Individual investors can discover the direction of the flow of large funds through on-chain transfers. These large funds are often referred to as Whale. Whale can have a significant impact on the price movements of cryptocurrencies, especially Bitcoin . Therefore, how to monitor Whale trends is of great significance both in terms of fundamentals and technical aspects.

Function

By modeling the behavior of Whale and individuals, L1 Whale Tracker Radar script can not only simply describe the behavior trends of Whale and individuals, but also generate some simple buying and selling points.

Key Signal

selradar indicates top region is reached.
buyradar indicates bottom region is reached.
buy is the long/xshort entry point suggested.
sell is the short/xlong entry point suggested.


Pros and Cons

Pros:

1. Detect Whale pump and trend.
2. Not a mature and accurate buy and sell script but provide alerts of Whale movements.
3. When it resonante with Buy signal, it has higher confidence level.

Cons:

1. Only use simple moving average to depict Whale behaviors so some info may be missing.
2. It is sensitive and may have noise inside and generate fake signal. BINANCE:BTCUSDT



Remarks

You can use this to confirm blockchain large fund transfer activities. E.g. Large amount of USDT flows into large exchanges.

Readme

In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.

The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.

Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.

Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.

Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.

Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.

Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.