Whale Activity Detector (V20 - Candle-Relative Diamonds)

This indicator is to visualize the "footprints" of large institutional traders, often referred to as "whales." By monitoring spikes in trading volume relative to a long-term average, the indicator flags moments when significant capital is entering or exiting the market.

How the Indicator Works (The Logic)

Volume Threshold: It calculates a Moving Average (MA) of the recent volume (default 20 bars). This average is then multiplied by a Spike Multiplier (default 3.0x) to create a dynamic threshold.

Spike Detection: Any price bar whose total volume exceeds this threshold is flagged as a potential "Whale Activity" bar.

Direction Confirmation: The color of the signal is determined by the price action of that bar (close > open for buying/accumulation, or close < open for selling/distribution).