OPEN-SOURCE SCRIPT
Whale Indicator
Overview:
This advanced script is designed to track the price difference of Bitcoin between Bitmex and Binance Futures, providing traders with strategic buy and sell signals. It capitalizes on the relative movements of Bitcoin prices across these two prominent platforms, offering a unique approach to market analysis and decision-making.
Functionality:
* Price Tracking: The indicator meticulously monitors the Bitcoin price on Bitmex and Binance Futures.
* Signal Generation:
* A buy signal is generated when the Bitmex price increases by $100.
* A sell signal is triggered when the Bitmex price decreases by $100.
* Special Conditions:
* A signal named STRONG BUY is produced when the price difference rises by $150.
* A signal named STRONG SELL is generated when the price difference drops by $150.
Methodology:
This indicator relies on simple yet effective price differential principles, where the relative movement between the two platforms signals potential trading opportunities. The threshold values of $100 and $150 are chosen to filter out noise and focus on significant market movements, providing clear actionable signals.
Usage Instructions:
* Timeframe: This indicator is optimized for the BTCUSD Daily chart. However, it is also adaptable to 4-hour and hourly charts for more active trading strategies.
* Trading Strategy:
* When a buy signal turns into a sell signal, the recommendation is to SHORT or SELL.
* Conversely, when a sell signal flips to a buy signal, traders are advised to LONG or BUY.
Warning: This indicator is specifically designed for Bitcoin and should not be applied to other assets, as it may yield inaccurate results.
By understanding the underlying calculations and the strategic thresholds utilized, traders can better grasp the rationale behind the generated signals and incorporate them into their trading arsenal effectively. This detailed approach ensures that the indicator not only alerts traders to potential opportunities but does so with a clear, logical foundation.
This advanced script is designed to track the price difference of Bitcoin between Bitmex and Binance Futures, providing traders with strategic buy and sell signals. It capitalizes on the relative movements of Bitcoin prices across these two prominent platforms, offering a unique approach to market analysis and decision-making.
Functionality:
* Price Tracking: The indicator meticulously monitors the Bitcoin price on Bitmex and Binance Futures.
* Signal Generation:
* A buy signal is generated when the Bitmex price increases by $100.
* A sell signal is triggered when the Bitmex price decreases by $100.
* Special Conditions:
* A signal named STRONG BUY is produced when the price difference rises by $150.
* A signal named STRONG SELL is generated when the price difference drops by $150.
Methodology:
This indicator relies on simple yet effective price differential principles, where the relative movement between the two platforms signals potential trading opportunities. The threshold values of $100 and $150 are chosen to filter out noise and focus on significant market movements, providing clear actionable signals.
Usage Instructions:
* Timeframe: This indicator is optimized for the BTCUSD Daily chart. However, it is also adaptable to 4-hour and hourly charts for more active trading strategies.
* Trading Strategy:
* When a buy signal turns into a sell signal, the recommendation is to SHORT or SELL.
* Conversely, when a sell signal flips to a buy signal, traders are advised to LONG or BUY.
Warning: This indicator is specifically designed for Bitcoin and should not be applied to other assets, as it may yield inaccurate results.
By understanding the underlying calculations and the strategic thresholds utilized, traders can better grasp the rationale behind the generated signals and incorporate them into their trading arsenal effectively. This detailed approach ensures that the indicator not only alerts traders to potential opportunities but does so with a clear, logical foundation.
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Feragatname
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