OPEN-SOURCE SCRIPT
Whale OBV Hunter [Divergence]
ENGLISH:
How it works This indicator automatically compares price action against volume flow (OBV). It hunts for "Divergences".
Normally, if price drops, OBV should drop. If price drops but OBV rises, it means "Whales" are absorbing the selling pressure (Accumulation).
How to use it
Buy Signal (Accumulation):
Look for Green Lines and the label "Whale Accumulation".
Meaning: Price made a lower low, but OBV made a higher low (Bullish Divergence). This is a strong signal for an upward reversal.
Action: Look for a LONG entry.
Sell Signal (Distribution):
Look for Red Lines and the label "Whale Distribution".
Meaning: Price is making higher highs, but OBV is dropping (Bearish Divergence). Smart money is leaving.
Action: Take profits or look for a SHORT entry.
Settings (Lookback):
Default is 5. If you see too much noise (too many signals), increase this number to 10 in the settings to spot only major institutional movements.
How it works This indicator automatically compares price action against volume flow (OBV). It hunts for "Divergences".
Normally, if price drops, OBV should drop. If price drops but OBV rises, it means "Whales" are absorbing the selling pressure (Accumulation).
How to use it
Buy Signal (Accumulation):
Look for Green Lines and the label "Whale Accumulation".
Meaning: Price made a lower low, but OBV made a higher low (Bullish Divergence). This is a strong signal for an upward reversal.
Action: Look for a LONG entry.
Sell Signal (Distribution):
Look for Red Lines and the label "Whale Distribution".
Meaning: Price is making higher highs, but OBV is dropping (Bearish Divergence). Smart money is leaving.
Action: Take profits or look for a SHORT entry.
Settings (Lookback):
Default is 5. If you see too much noise (too many signals), increase this number to 10 in the settings to spot only major institutional movements.
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.