OPEN-SOURCE SCRIPT
Whale Tracker Pro Tomgoodcar v1
Cycle, Strategy (Action), Highlighted Status (according to code), How to use in trading:
1. Accumulation: Start accumulating, when a BUY signal occurs (s1 is true), enter a buy position according to the signal. This is the point where large players start quietly accumulating.
4. Mark Up, Uptrend: Run profit, when the price is above the MA50 (s4 is true) but there are no new buy/sell signals, hold and continue to run profit. The market has confirmed the uptrend.
6. Distribution, Selling off: Partial selling, when a SELL signal occurs (s6 is true), sell to take profit. This is the point where large players are releasing their holdings into the market.
"5, 7, 9, 10...", others, not highlighted according to this code," are used as a context to understand which stage the market is in during the cycle (e.g., about to end an uptrend, or entering a downtrend)."
List, Calculation, Interpretation, and Usage
Buy Price: low_20 (lowest point in the last 20 bars), used as a key support level or the best entry point (Buy Zone) if the price retraces.
Sell Target: high_20 (highest point in the last 20 bars), used as a key resistance level or profit-taking target (Take Profit Zone).
1. Accumulation: Start accumulating, when a BUY signal occurs (s1 is true), enter a buy position according to the signal. This is the point where large players start quietly accumulating.
4. Mark Up, Uptrend: Run profit, when the price is above the MA50 (s4 is true) but there are no new buy/sell signals, hold and continue to run profit. The market has confirmed the uptrend.
6. Distribution, Selling off: Partial selling, when a SELL signal occurs (s6 is true), sell to take profit. This is the point where large players are releasing their holdings into the market.
"5, 7, 9, 10...", others, not highlighted according to this code," are used as a context to understand which stage the market is in during the cycle (e.g., about to end an uptrend, or entering a downtrend)."
List, Calculation, Interpretation, and Usage
Buy Price: low_20 (lowest point in the last 20 bars), used as a key support level or the best entry point (Buy Zone) if the price retraces.
Sell Target: high_20 (highest point in the last 20 bars), used as a key resistance level or profit-taking target (Take Profit Zone).
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.