Whale Activity Impact Oscillator

The "Whale Activity Impact Oscillator" is a Pine Script v6 component designed to identify abnormal price movements caused by potential whale activity in the crypto market.

Here's how it works:

• Inputs: The script allows users to configure the volume spike multiplier, price spike multiplier, lookback period, minimum volume threshold, and thresholds for strong buy and sell signals.
  
• Data Calculations: It calculates the average volume and average percentage price change over the specified lookback period.
  
• Whale Detection Logic: The script detects a volume spike if the current volume exceeds the average volume by the specified multiplier. It detects a price spike if the percentage price change exceeds the average by the specified multiplier.
  
• Signals: A buy signal is generated when both a volume spike and a price increase are detected. A sell signal is generated when both a volume spike and a price decrease are detected.
  
• Output: The oscillator is displayed as a histogram below the price chart. Green bars indicate buy signals, red bars indicate sell signals, and gray bars indicate normal activity. The height of the bars is proportional to the magnitude of the price change.
  
• Alerts: The script includes alerts for whale buying and selling detected signals.
  
• Edge Cases: The script avoids false signals in low-liquidity environments by setting a minimum volume threshold and filtering out signals during low market activity.
  

This component can be added to a TradingView chart to help traders identify potential whale activity and make informed trading decisions.