blackcat1402

[blackcat] L2 KDJ with Whale Pump and Oust

Level: 2

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.

The KDJ oscillator display consists of 3 lines (K, D and J - hence the name of the display) and 2 levels. K and D are the same lines you see when using the stochastic oscillator. The J line in turn represents the deviation of the D value from the K value. The convergence of these lines indicates new trading opportunities. Just like the Stochastic Oscillator, oversold and overbought levels correspond to the times when the trend is likely to reverse.

Function

L2 KDJ with Whale Pump and Oust is a composite indicator that combines both KDJ and Whale Pump and Oust detector. By virtue of this, fake signal of KDJ can be filtered out to some degree.

Key Signal

whalepump --> whale buy behavior will be detected and displayed in green histograms
oust --> after whale buy behavior, there usually a oust action from whale to drive out profitable orders to reduce the selling pressure of subsequent pull ups. This oust will be detected and displayed in red histograms
k --> k value of a stochastic oscillator
d --> d value of a stochastic oscillator
j --> the deviation of the d value from the d value of a stochastic oscillator

Pros and Cons

Pros:

1. filter out KDJ fake signal by introducing whale pump/oust detector
2. J value can be used to detect overbought and oversold regions


Cons:

1. It works better in small time frame and sideways. Extreme long or short conditions may cause KDJ staturate.
2. It can only indicate in current time frame, larger time frame trend info is missing.


Remarks

An improved version of L2 KDJ with Whale Pump Detector by adding oust function. Works fine in 15mins time frame.

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.
Release Notes: In order to obey the House Rule, remove the irrelevant MA Cross display.
Release Notes: @gamemeichen, error is corrected. Enjoy.
Release Notes: Add labels and alerts
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Kommentarer

i really love this indicator, i can say that if the whale start to pump and oust we can assume the price will be jump. i use it on stock. i use 15m and 2h , because sometimes i can see the candle on 15m or 2h only. can i get help what is the meaning of the number from 20 until 120 on the right side of the indicator , it is indicate the volume? i really dont' know because sometimes in one stock it is written 100000 , but sometimes only 0 - 100
+2 Svara
Two scripts in a day? It's not Christmas yet.
+1 Svara
Jittra Jittra
@blackcat1402, another thing, could it be MTF?
+2 Svara
how to see the last date of editing the script ?
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Hi there, the latest version indicator doesn't have Whale Pump and Oust anymore? so sad. :(
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skty86 skty86
@blackcat1402, would you able to share the source code of the previous version with Whale Pump and Oust? Many thanks!
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I really appreciate this indicator, its really great.
Unfortunately, error has occurred recently every time I try to load this indicator, much appreciated if it could be fixed.
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It is not open anymore
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Hi İt is nice work. ı want to ask that can we sceen this in traidingview
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