OPEN-SOURCE SCRIPT
已更新 Baekdoo baseline

Hi forks,
I'm trader Baekdoosan who trading Equity from South Korea. This Baekdoo baseline will give you the idea of big whale's approximate average price. The idea behind this indicator is to combine volume and price. Here's one of the equation.
...
HT4=highest(volume, 250)
NewH4=valuewhen(volume>HT4[1], (open+close+low+high+close)/5, 1)
result4=ema(NewH4, 20)
...
As you can see it will update when highest volume is updated by certain period of time. At that update will be the price of the close weighted price. and I put shift value of 20 (offset of input value) due to putting time theorem of Ichimoku Balance Table. 20 days means for 1 month of market day.
Why this idea work? It is mainly for the support / resistance. Resistance is made for lots of individual's buy. When the price goes down, they are tend to hold. As time goes by price getting high to their average price, then they are selling it with small profit or the same price or with small loss. So resistance is made by lots of individuals. And supports are made by small number of big whales. If we see the volume only, then we cannot differentiate easily for lots of individuals and small number of big whales. But lower price's large volume will most probably be the whale where higher price's large volume will most probably tons of individuals.
hope this will help your trading on equity as well as crypto. I didn't try it on futures. Best of luck all of you. Gazua~!
I'm trader Baekdoosan who trading Equity from South Korea. This Baekdoo baseline will give you the idea of big whale's approximate average price. The idea behind this indicator is to combine volume and price. Here's one of the equation.
...
HT4=highest(volume, 250)
NewH4=valuewhen(volume>HT4[1], (open+close+low+high+close)/5, 1)
result4=ema(NewH4, 20)
...
As you can see it will update when highest volume is updated by certain period of time. At that update will be the price of the close weighted price. and I put shift value of 20 (offset of input value) due to putting time theorem of Ichimoku Balance Table. 20 days means for 1 month of market day.
Why this idea work? It is mainly for the support / resistance. Resistance is made for lots of individual's buy. When the price goes down, they are tend to hold. As time goes by price getting high to their average price, then they are selling it with small profit or the same price or with small loss. So resistance is made by lots of individuals. And supports are made by small number of big whales. If we see the volume only, then we cannot differentiate easily for lots of individuals and small number of big whales. But lower price's large volume will most probably be the whale where higher price's large volume will most probably tons of individuals.
hope this will help your trading on equity as well as crypto. I didn't try it on futures. Best of luck all of you. Gazua~!
發行說明
1. changing script v5 syntax2. modify values for valuewhen's occurrences for the first occurrence
3. for 5, and 20's short period of Baekdoo baseline needs shift value also modified by proper period not just 20 days for all
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開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。