This tutorial applies to the (blackcat) L5 Whales Jump Out of Ocean X indicator. This is an Invite-Only indicator based on Tradingview. By adding the dynamic message alerts, 30~400 trading pairs tracking signals can be set in the premium account of Tradingview, once the whale/banker fund is detected. The Tradingview alert system will send the alarm information to your mobile phone, App or email to remind you according to your customized configurations.
The reason why I added this function is that @azrultebi, on 2021-04-12, proposed to add an alert function to this indicator. The specific requirements are:
1. when whale start jump long or short entries.
2. fibonacci bottom and top time window.
3. long entry motive waves or short entry corrective waves.
Alerts for Whale Jumps
For the whale jump alert signal, the function definition is relatively intuitive. Short at the first yellow bar when the short whale appears, and close short position the first green bar that appears after; in the same way, long at the first fuchsia bar when the long whale appears, and close long position at the first red bar that appears afterwards. Therefore, there are 4 alerts for whale jump signals, namely Whale SHORT (S+), Whale LONG (L+), Whale XSHORT (XS+) and Whale XLONG, (XL+). These four signals are relatively reliable, and try to use them in a time frame greater than or equal to 1 hour. The larger the time frame, the more stable the entry signal. The trigger frequency of these alert signal is the first function call in the latest to trigger the alert.
Alerts for Waves
For the wave alert signal, the definition of long-short reversal is rather vague. I used John Ehlers’ filtering technology to process the wave digitally, filtering out a lot of noise signals, and ensuring that its delay is within 1 to 2 candle bars. However, it is still difficult to filter the frequent entries in sideways market. The difficulty of this operation is that some good trading points are born in the sideways. I have tried to add Filter for filtering, but found that some buying and selling points will also be filtered out and lose profits. Therefore, I gave up the sideways filtering mechanism. I directly utilize the filtered moving average golden cross and dead cross to produce a wave entry signal. According to the definition of Theory, a motive wave is a long wave, and the incoming signal is Wave LONG (L); similarly, a corrective wave is a short wave, and the incoming signal is Wave SHORT (S). It is worth noting that the wave alerts did not generate a close/exit signal. Therefore, the wave alert has only two signals: long and short. Compared with the wave long-short signal and the whale long-short signal, the main difference is in the trend strength and certainty of the market trend. Obviously, the whale signal is stronger than the wave signal in trend strength and certainty, so when placing an order, the order size and position control can be defined accordingly. For wave signal, small order sie can be used for test/verification; For whale signal, half of balance can be used to follow up.
Alerts for Fibonacci Time Windows
For Fibonacci Time Window “Support” or “Resistance” signal, I did not add alerts here because they are blur and not suitable as precise entry signal.
HOW-TO add alerts
Alerts in this script use an`alert()` function which allows a fully dynamic message to be generated when the alert triggers. To create the new alerts: Create one alert for the script using the chart’s “Create Alert” dialog box and select an alert type including “alert() function call”.
The Alert message format is like:
Whale LONG (L+),
This format generates automatically from the indicator and you do not need to set any input parameters besides alert configurations.
If you are fresh on Tradingview Alerts, I recommend you to read Tradingview manual and blog as,
(1) How to set up alerts, https://www.tradingview.com/support/solu…
(2) Our New Alerts Allow for Dynamic Messages, https://www.tradingview.com/blog/en/our-…