New Pine Script Stratgey: Buy on Whale Signal

This startegy is adapted from an indicator, Multiple Strategies by Lupown. There were many indicators on this script originally, but i have simplified it to only Whale detector, which is thanks to BLACKCAT1404. 

Startegy Description: It places buy order when then whale detector bar reaches certain threshold level which you can adjust as well as the Take Profit and Stop Loss.

Recommended Settings:

Pair: BTCUSDT (Binance)

Time frame: 7min

Initial Capital: 100

Base Currency: Default

Order Size: 95% equity

Pyramiding: 1 order

Commission: 0.1 %

Each pair of token has different threshold, suitable time frame, TP and SL. Aa a matter of fact, Even different CEX may produce result for the same coin. You have to test one by one to get the best result. Do share your best strategy setting in the comment. 

*credit to LUPOWN and BLACKCAT1404   

//@version=4

strategy("WHALE pump signal [credit to Lupown,Blackcat1404]", overlay=false, initial_capital = 100, default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent , commission_value=0.1)

// Desc: Best setting ETH TF7min Thres 30 TP6 SL3 Scale1000

// Input parameters

whale_threshold = input(30, title="Whale Threshold")

profit_target_percent = input(6, title="Profit Target (%)")

stop_loss_percent = input(3, title="Stop Loss (%)")

scale = input(1000, title="Scale Factor")

show_whale = input(true,title = "Show Whale detector")

/////////////////WHALE BY BLACKCAT1404

//functions

xrf(values, length) =>

    r_val = float(na)

    if length >= 1

        for i = 0 to length by 1

            if na(r_val) or not na(values[i])

                r_val  :=  values[i]

                r_val

    r_val

xsa(src,len,wei) =>

    sumf = 0.0

    ma = 0.0

    out = 0.0

    sumf  :=  nz(sumf[1]) - nz(src[len]) + src

    ma  :=  na(src[len]) ? na : sumf/len

    out  :=  na(out[1]) ? ma : (src*wei+out[1]*(len-wei))/len

    out

//trend follower algorithm

var2 = xrf(low,1)

var3 = xsa(abs(low-var2),3,1)/xsa(max(low-var2,0),3,1)*100

var4 = ema(iff(close*1.2,var3*10,var3/10),3)

var5 = lowest(low,30)

var6 = highest(var4,30)

var7 = iff(lowest(low,58),1,0)

var8 = ema(iff(low<=var5,(var4+var6*2)/2,0),3)/618*var7

//plotcandle(0,var8 * (close/scale) ,0,var8* (close/scale),color= var8 > 0 and show_whale ?color.yellow:na)

plot(show_whale? var8 * (close/scale) : na, title = "whale" , style = plot.style_columns,color=color.yellow, transp=80)

    // Define whale pump condition

whale_pump_condition = var8 * (close/scale) > whale_threshold

// Strategy logic

if (whale_pump_condition)

    strategy.entry("Buy", strategy.long)

   

// Calculate profit target and stop loss levels

entry_price = strategy.position_avg_price

profit_target = entry_price * (1 + profit_target_percent / 100)

stop_loss = entry_price * (1 - stop_loss_percent / 100)

// Exit conditions

strategy.exit("Take Profit/Stop Loss", "Buy", limit=profit_target, stop=stop_loss)

*updated 22/4/2024

*Do share strategy in the comments section