You are doing extremely well; that is splendid •An exclamation of praise and encouragement: Ron, stick that old hand out. Way to go, Prez
[a shortening of that's the way to go]
The Dictionary of American Slang, Fourth Edition by Barbara Ann Kipfer, PhD. and Robert L. Chapman, Ph.D. Copyright (C) 2007 by HarperCollins Publishers. Cite This Source
Idioms and Phrases with way to go
way to go
Well done, as in That was a great lecture—way to go! This exclamation of approval and encouragement originated in sports, addressed to athletes who are performing well. In the 1960s it began to be used for any kind of achievement.